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cranlsn
Returning Member

Standard Deduction is showin as $0

I know I cannot file yet, but I've been entering our W2 info early to save some time.  Why is the Standard Deduction showing as $0?  Are we waiting for an update from the IRS or something?

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3 Replies

Standard Deduction is showin as $0

Where are you looking for your standard deduction?   It will be on line 12 of your Form 1040.

 

 

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)

 

 

2023 STANDARD DEDUCTION AMOUNTS

 

SINGLE $13,850  (65 or older/legally blind + $1850)

 

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

 

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

 

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

 

**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.**
rjs
Level 15
Level 15

Standard Deduction is showin as $0

Is your filing status married filing separately and is your spouse claiming itemized deductions? If so, your standard deduction is zero. If you file as married filing separately you have to either both take the standard deduction or both itemize.


Were you a U.S. citizen or resident alien for the entire year?

 

cranlsn
Returning Member

Standard Deduction is showin as $0

I found it.  I started my return incorrectly.  When I started over, I corrected my error and all is well now.

 

Thank you to those that replied.  

TL;DR - user error.

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