Question

Is the standard deduction for a couple still 25000

Forum|Forum|2 years ago
April 16, 2024
3 replies
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is the standard deduction for a couple still 25000

TurboTax Deluxe Online

Employee

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 2023 Form 1040.

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)

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DMarkM1

No. The standard deduction for married filing jointly both under age 65 is $27,700 for tax year 2023.

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B

Bsch4477

Employee

The 2023 standard deduction for tax returns filed in 2024 is $13,850 for single filers, $27,700 for joint filers or $20,800 for heads of household. People 65 or older may be eligible for a higher amount.