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February 8, 2020
Question

I got $ back for over 65 tax exemption where do I record on turbo tax

  • February 8, 2020
  • 1 reply
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1 reply

Employee
February 8, 2020

What do you mean "over 65 exemption?"    Your standard deduction is higher if you are 65 or older.

 

Your standard deduction lowers your taxable income.  It is not a refund. 

 

2019 Standard Deduction Amounts

 

Single $12,200   (+ $1650 65 or older)

Married Filing Separate  $12,200   (+ $1300 if 65 or older)

Married Filing Jointly $24,400   (+ $1300 for each spouse 65 or older)

Head of Household $18,350  (+ $1650 for 65 or older)

 

Look on line 9 of your 2019 Form 1040 to see your itemized/standard deduction amount

 

The software uses the date of birth you enter in My Info and calculates your standard deduction automatically.

 

**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.**