Why I am getting $18,580 listed as my standard deduction filling single when the proper amount is $14,600 for 2024?

Forum|Forum|1 year ago
February 20, 2025
2 replies
0 views

I completed both the income and deductions & credits sections and the website shows this amount. It was showing the correct amount 2 days ago when I started the process.

xmasbaby0

Employee

Are you 65 or older ? Filing Single? Legally blind? If both---that would explain $18,500

The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600 (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)

**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.**

alejandro-torres-velazquezAuthor

I am single, 58 years old and not blind. I started the filling process on Sunday and the page was showing the correct amount of $14,600 as my standard deduction. I continued today adding some more entries into the deductions and credits section and when I was done, the system changed the standard deduction to $18,580 even though I didn't change any info for me. The funny part is that If I use the "explain these deductions" option, the side bar lists the proper $14,600 as the standard deduction expected for my status. But the tax calculation still shows the $18,580 as my std. deduction.

DawnC

Employee

You can deduct EITHER the standard deduction or itemized deductions. TurboTax will apply the higher amount of the two numbers. Preview your tax return, what number is on line 12? Are the side by side numbers you are seeing possibly a comparison between 2023 and 2024?

Preview Form 1040 in TurboTax Online.

Use Forms Mode if you are using the desktop software.

How to Switch Deductions

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

ThomasM125

It may be that you entered enough itemized deductions to get over the standard deduction amount, so you are actually receiving the itemized deduction. You would have to look on your Schedule A to verify that. You can do that as soon as you pay for your TurboTax product.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

alejandro-torres-velazquezAuthor

I don't think that's the case, as both amounts are listed side by side on the website once you are done with your deductions. On Sunday, my standard deduction was showing the correct amount of $14,600 and my itemized was a little under (around $13,000) but I was missing some entries to add in the deductions and credits section. After I was done with those entries, my itemized deduction went up to $17,300 but the standard deduction changed from $14,600 to $18,580.