Any CPA's here?????

[Firetiger(MN)]

I was filling out my taxes and noticed I'm getting a nice refund.....more than usual.  So, I rechecked my numbers and everything is correct, but I see that the standard deduction for a single filer is $7700 while on the other two 1040 forms it's $4700.  What's the scoop?  Misprint?  I checked the IRS page but there was no revisions to the form or corrections highlighted.

 

Maybe I should just shut up and take the cash!

[CMNTMXR81]

I'm not a CPA, but I am an Accountant.    My US 1040 book shows the standard deduction still at $4,700.  The only time it gets anywhere near $7,700 is if you're 65 or older or blind, in which case if the number of people claimed is 2 then you get $7,000.

[Firetiger(MN)]

I just figured it out.  $3000 exemption + $4700 standard deduction.  whew.  My refund is OK.  Had me a little worried there!  What shall I purchase?????   :thumb:

[CMNTMXR81]

I was wondering if an exemption was factored in there.

[jr.parrish]

Glad you figured it out.

 

I was about to go ask my dad, who is a CPA.