TurboTax / Tax Calculators & Tips / All Tax Guides / Tax Deductions and Credits / Video: Changes in the Standard Deduction for Certain Tax Filers

Video: Changes in the Standard Deduction for Certain Tax Filers

Updated for Tax Year 2014


OVERVIEW

There are other factors that affect your standard tax deduction besides your filing status. Watch this video to find out what they are.


Get every deduction you deserve

TurboTax Deluxe searches more than 350 tax deductions and credits so you get your maximum refund, guaranteed.

For only $54.99*
Start for Free

Hello, I’m Tammy from TurboTax with some information about the standard deduction.

Are you aware that there are other factors that affect the amount of your standard deduction besides your filing status?

If not, you’ll be interested to learn about the standard deduction rules for certain taxpayers. For many taxpayers who use the same filing status each year—reporting the standard deduction on a tax return is probably one of the more simple tasks. This is because there are five filing status options available and each one has a fixed amount of standard deduction you can report.

But if you will be 65 by the end of the tax year, are at least partially blind or are the dependent to another taxpayer—your standard deduction is a little different.

When you are at least 65 years old by the end of the tax year, the IRS provides you with a larger standard deduction than if you weren't over 65.

And if you file a joint return with your spouse and only one of you qualifies for the increased standard deduction—you can still report it.

The same increased standard deduction is available to blind taxpayers as well. However, if you aren’t totally blind—you still qualify for the increase—but you must obtain a certified document from your doctor stating that the quality of your eyesight is below certain levels. Keep this document with your tax records—the IRS doesn’t require you to send a copy with your return, but the agency will expect you to have it available if it ever requests proof.

Dependents are another group of taxpayers who are subject to different standard deduction rules. If another taxpayer claims you as their dependent, this doesn’t mean you’re exempt from income tax. You must still report your income on a tax return each year if the amount requires it. However, the maximum standard deduction you are eligible to take is equal to that of a single filer. In some circumstances, it may be much lower— but this depends on whether you earn your income from working or through investments.

For those of you who normally itemize your deductions because it saves you more in tax than the standard deduction—remember that if you qualify for the increased standard deduction, the level of itemized expenses you report also needs to increase to make itemizing worth it.

Remember, when you use TurboTax to file your tax return, we’ll ask you simple questions and recommend the best filing status for you.

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

* Important Offer Details and Disclosures
  • Try for Free/Pay When You File: TurboTax online and mobile pricing is based on your tax situation and varies by product. Actual prices are determined at the time of print or efile and are subject to change without notice. Special discount offers may not be valid for mobile in-app purchases.
  • TurboTax CD/Download products: Price includes tax preparation and printing of federal tax returns and free federal efile of up to 5 federal tax returns. Additional fees apply for efiling state returns. E-file fees do not apply to New York state returns. Prices subject to change without notice.
  • TurboTax Mobile: Actual prices are determined at the time of print or efile and are subject to change without notice. Come back here before you file to confirm that the price has not changed, especially if it's been a while since you downloaded this app.
  • Anytime, anywhere: Internet access required; standard message and data rates apply to download and use mobile app features and content. TurboTax mobile app devices supported include Android 4.1 and above, iOS 8 on iPhone 4s and above, and iPad 2.
  • Fastest refund possible: Fastest tax refund with efile and direct deposit; tax refund timeframes will vary.
  • Pay for TurboTax out of your federal refund: A $34.99 Refund Processing Service fee applies to this payment method. Prices are subject to change without notice.
  • About our TurboTax Product Experts: Customer service and product support (phone or chat) vary by time of year. Phone support not included with Free Edition.
  • About our credentialed tax experts: Live tax advice service is available for your toughest tax questions; fees may apply. Service, experience levels, hours of operation and availability vary, and are subject to restriction and change without notice. Click here for full terms and conditions. Not available for TurboTax Business customers.
  • Get up to 10% on top of your federal refund: Amazon.com Gift Card offer is for federal refunds only. Limits apply ($2000 per e-card, maximum $10,000 per customer). Offer available only for TurboTax Online (except Federal Free Edition) or CD/download versions sold and shipped, or downloaded directly from Intuit or Amazon. Except as required by law, Amazon.com Gift Cards cannot be canceled, transferred for value or redeemed for cash.

    Amazon.com is not a sponsor of this promotion. Except as required by law, Amazon.com Gift Cards ('GCs') cannot be transferred for value or redeemed for cash. GCs may be used only for purchases of eligible goods at Amazon.com or certain of its affiliated websites. For complete terms and conditions, see www.amazon.com/gc-legal. GCs are issued by ACI Gift Cards, Inc., a Washington corporation. All Amazon ®, ™ & © are IP of Amazon.com or its affiliates. No expiration date or service fees.
  • #1 best-selling tax software: Based on aggregated sales data for all tax year 2013 TurboTax products.
  • 4.8 out of 5 stars: Average based on customer ratings on TurboTax.com for TurboTax Online and CD/download products tax year 2014, as of January 2015.
  • Most Popular: TurboTax Deluxe is our most popular product among TurboTax Online users with more complex tax situations.
  • TurboTax CD/Download priority phone support: Priority phone support for TurboTax CD/Download Premier and Home & Business is accessible exclusively via the TurboTax.com Help Center.
  • Benefit Assist: After you file, TurboTax automatically shows you a full list of government benefits you may qualify for, like Food Stamps or reduced phone & utilities. Plus, we help you apply, saving you time and making it easier than ever to get more money! Estimate based on calculation of Benefit Assist users from tax year 2013 and published reports of average benefit and savings amounts from federal and state programs. Actual amounts and qualifications based on your individual situation; some individuals will not qualify. Feature may not be available for all customers.
  • Simplified State Experience: New, simplified state tax preparation available for most filers.
  • Eligibility for $25 cash back for returning Deluxe customers: Customers who have completed their 2013 taxes in TurboTax Deluxe (CD or download), and have completed their 2014 taxes in either TurboTax Premier or TurboTax Home & Business (CD or download), and apply here before 11:59PM PDT April 20, 2015, are eligible for $25 back. 2014 TurboTax Advantage users are ineligible for this offer. Terms and conditions are subject to change without notice.
  • $0 Upgrade Offer: Valid for customers who filed their 2013 taxes with TurboTax Deluxe (CD or download), completed prior year data transfer this year, and encounter an upgrade to either 2014 TurboTax Premier or 2014 TurboTax Home & Business (CD or download). Valid February 6, 2015 through April 20, 2015. TurboTax Advantage users are ineligible for this offer. This offer may not be combined with our $25 cash back offer. Terms and conditions are subject to change without notice.