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January 23, 2025
Question

Standard Deduction is showin as $0

  • January 23, 2025
  • 3 replies
  • 0 views

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?

    3 replies

    Employee
    January 23, 2025

    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
    Employee
    January 23, 2025

    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?

     

    cranlsnAuthor
    January 23, 2025

    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.