in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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Are you someone else's dependent?
The standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,100 or the sum of $350 and the individual’s earned income (not to exceed the regular standard deduction amount).
One possible explanation is that you are a dependent of another taxpayer.
If you can be claimed as a dependent by another taxpayer, your standard deduction for 2020 is limited to the greater of: (1) $1,100, or (2) your earned income plus $350 (but the total can't be more than the basic standard deduction for your filing status).
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in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill