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March 19, 2020
Question

My parents are claiming me yet it is giving me a standard deduction of 1741. I don't understand why it is doing this since they claim me

  • March 19, 2020
  • 1 reply
  • 0 views
plus I don't knw how to fix it if this is wrong. I didn't make that much but would like to get it back

1 reply

VolvoGirl
Employee
March 19, 2020

Everyone gets a Standard Deduction.  

The Standard Deduction for an individual for whom an exemption can be claimed on another person's tax return is limited to the greater of:

…..$1,050 or

…..Your earned income for the year + $350 (but not more than 12,200)

 

So you would get a minimum of $1,050.

 

See page 23 of Publication 501 and the worksheet on page 25

http://www.irs.gov/pub/irs-pdf/p501.pdf

 

its a Deduction off your income so you get taxed on a lower amount.  It's not a Deduction from your refund.  The Standard Deduction is a good thing.  You should get all your withholding in W2 box 2 back if you only have W2 income.