Question

Standard vs Itemized Deductions

Forum|Forum|6 years ago
February 27, 2020
1 reply
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My 2018 form 1040 (prepared using TurboTax) shows a deduction on line 8 (the Standard / Itemized Deduction line) of $25,300. According to the 2018 IRS instructions, the Standard Deduction for "married filing jointly" was $24,000. Now, TurboTax 2019 is telling me that I used the Standard Deduction for 2018 (basis imported data). Further, when I review my 2018 return, I find no Schedule A, which is the Itemized Deduction schedule. Yet, my 2018 return was accepted by the IRS when I filed it last year. What's going on??

VolvoGirl

Employee

You got the Standard Deduction. One of you was over 65. You get an extra 1,300 for each spouse 65 or older. 24,000+1,300=25,300

For 2018 the standard deduction amounts are:
Single 12,000 + 1,600 for 65 and over
HOH 18,000 + 1,600 for 65 and over
Joint 24,000 + 1,300 for each 65 and over
Married filing Separate 12,000 + 1,300 for 65 and over