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gkaukoranta
March 16, 2021
Question

Does claiming over 65 lower your standard deduction when filing jontly?

  • March 16, 2021
  • 1 reply
  • 0 views
why is the standard deduction $1,300 less when filing jointly and one of us is over 65

1 reply

X
xmasbaby0
Employee
March 16, 2021

Your standard deduction is HIGHER if you are 65 or older.

 

You will see your standard or itemized deduction amount on line 12 of your 2020 Form 1040.

 

 

2020 Standard Deduction Amounts

 

Single $12,400   (+ $1650 65 or older)

Married Filing Separate  $12,400   (+ $1300 if 65 or older)

Married Filing Jointly $24,800   (+ $1300 for each spouse 65 or older)

Head of Household $18,650  (+ $1650 for 65 or older)

 

 

(+ $1300 for legally blind)

**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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