Question

Mr. and Mrs. Keppner file a joint income tax return. Assume the taxable year is 2020. Required: Compute their standard deduction assuming that Mr. Keppner is age 68, and Mrs. Keppner is age 60. Compute their standard deduction assuming that Mr. Keppner is age 70, and Mrs. Keppner is age 68. Compute their standard deduction assuming that Mr. Keppner is age 70, and Mrs. Keppner is age 68. Mrs. Keppner is legally blind.

Answer 1

Answer:

Compute their standard deduction assuming that Mr. Keppner is age 68, and Mrs. Keppner is age 60.

• standard deduction = $24,800 + $1,300 = $26,100

Compute their standard deduction assuming that Mr. Keppner is age 70, and Mrs. Keppner is age 68.

• standard deduction = $24,800 + $2,600 = $27,400

Compute their standard deduction assuming that Mr. Keppner is age 70, and Mrs. Keppner is age 68. Mrs. Keppner is legally blind.

• standard deduction = $24,800 + $2,600 + $1,300 = $28,700

Explanation:

The regular standard deduction for married filing jointly is $24,800 during 2020, but for every person over 65, they get an additional $1,300. This also applies if any of them is blind.

If the tax filer is single or married filing separately, then the additional amount is $1,650.