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February 26, 2021
Question

Why is my standard deduction $5,774 instead of $12,400 for a single filer?

  • February 26, 2021
  • 2 replies
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2 replies

Employee
February 26, 2021

Are you being claimed as someone else's dependent?

 

 The standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,100 or the sum of $350 and the individual’s earned income (not to exceed the regular standard deduction amount).

**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.**
February 26, 2021

Are you a dependent?

 

If you can be claimed as a dependent by another taxpayer, your standard deduction for 2020 is limited to the greater of: (1) $1,100, or (2) your earned income plus $350 (but the total can't be more than the basic standard deduction for your filing status).

 

If your standard deduction was $5,774, it sounds like it was $5,424 of W-2 income plus $350.

 

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