Question

What form in TurboTax shows how the standard deduction is calculated? The standard deduction now showing is twice the $24,800 I expected.

Forum|Forum|5 years ago
March 18, 2021
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Employee

Duplicate post see answer here:

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-standard-deduction-appears-to-be-too-high/01/2106408

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

DoninGA

Employee

The Standard Deduction is a fixed amount as shown on the Federal Tax Return Form 1040 Line 12.

Standard deductions for 2020

Single - $12,400 add $1,650 if age 65 or older
Married Filing Separately - $12,400 add $1,300 if age 65 or older
Married Filing Jointly - $24,800 add $1,300 for each spouse age 65 or older
Head of Household - $18,650 add $1,650 if age 65 or older

If your itemized deduction on Schedule A are greater than the standard deduction for your filing status the itemized deductions will be used on Form 1040 Line 12.