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Personal Finance and Investing

dflprincess

(28,777 posts)

3. Once we hit 65 we get an extra $1,000 on the standard deduction

Reply to question everything (Original post)

Fri Feb 28, 2020, 10:27 PM

Feb 2020

when this happened to me last year, I thought there was some kind of glitch in the TurboTax program that was entering the incorrect amount.

I would assume the SR on the form is used, in part, for when the return is scanned & so the increase in the deduction isn't flagged. But that is just a guess.

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On my 1040 it has the addition SR [View all] question everything Feb 2020 OP

large print... handmade34 Feb 2020 #1

Can't be used if itemize deductions progree Feb 2020 #2

TurboTax may have not got the memo question everything Feb 2020 #4

Either that, or AARP screwed up -- it was originally published July 2019 progree Feb 2020 #5

Once we hit 65 we get an extra $1,000 on the standard deduction dflprincess Feb 2020 #3

Could it be b/c all of your SS is not taxed? mitch96 Feb 2020 #6

85% is the maximum on amount of SS income that is taxed. (That's where I'm at too) n/t progree Feb 2020 #7