Asked by Yadelis Carmona gonzalez on May 12, 2024
Verified
The standard deduction in 2017 for a married couple,under 65 and not blind,is $12,700.
Standard Deduction
A fixed amount deducted from income before income tax is calculated, available to all taxpayers who do not itemize their deductions.
Married Couple
Two individuals who are legally married to each other and may file taxes jointly or separately.
- Comprehend the function of personal and standard deductions in calculating taxable income.
- Understand the impact of age, blindness, and other factors on standard deductions and exemptions.
Verified Answer
EK
Emmet Keeffe IVMay 18, 2024
Final Answer :
True
Explanation :
According to the IRS, the standard deduction for a married couple filing jointly in 2017, both under 65 and not blind, was indeed $12,700.
Learning Objectives
- Comprehend the function of personal and standard deductions in calculating taxable income.
- Understand the impact of age, blindness, and other factors on standard deductions and exemptions.