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My standard deduction is only $6300 for single shouldn't it be $12,000 for the Trump tax cuts?
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The increase of the standard deductions are effective for tax year 2018 and beyond, not for tax year 2017.
Standard deductions for 2017
- Single - $6,350 add $1,550 if age 65 or older
- Married Filing Separately - $6,350 add $1,250 if age 65 or older
- Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
- Head of Household - $9,350 add $1,550 if age 65 or older
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