Turbo Tax is showing $7775 as Standard deduction for a single flier (unmarried). I am a fulltime student and trying to submit tax for the money earned as intern in 2023 summer
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:
…..$1,250 or
…..Your earned income for the year + $400 (but not more than 13,850)
So you would get a minimum of $1,250 to a max of 13,850.
See Table 8 Standard Deduction worksheet for Dependents on page 26
https://www.irs.gov/pub/irs-pdf/p501.pdf
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