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why is the program showing standard deduction $30,750 instead of $29,200?

what is the standard deduction for married filing jointly?
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2 Replies
M-MTax
Level 11

why is the program showing standard deduction $30,750 instead of $29,200?

It's $29,200 for MFJ PLUS $1,550 if you're 65 and older or blind.

why is the program showing standard deduction $30,750 instead of $29,200?

Is one of you 65  or older or legally blind?  You get a higher standard deduction for that.

 

 

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

 

 

 

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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