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clancy917
February 15, 2021
Question

Standard deduction for 1040SR (born before 1956) is 27,400. Why is Turbotax only deducting 26,100?

  • February 15, 2021
  • 1 reply
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1 reply

X
xmasbaby0
Employee
February 15, 2021

It goes by your age at the end of 2020.  Check the dates of birth entered for you and your spouse in My Info.  It sounds like one of you was still 64 at the end of 2020.

 

 

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)

 

**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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