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    BobW76
    Level 1

    My reading of the current tax law is that an individual is entitled to an above the line deduction of $300 deduction and a married couple is entitled to a $600 above the line deduction yet when I put the $600 in the software rejects it. Who is right?

     

    Bob

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    3 Comments 3
    TaxGuyBill
    Level 15

    The law for 2020 says $300, even for joint returns.

    The law for 2021 says $300 for Single and $600 for Joint.

    Just-Lisa-Now-
    Level 15
    Level 15

    Current law, for 2021, that is true.  For 2020, the max is $300.


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    IRonMaN
    Level 15

    Your reading is correct since it is 2021 and the current tax law for 2021 is $600.  However, the software is dealing with old tax law which was $300.  Congratulations - you are both correct!


    Slava Ukraini!