What is Sherman's standard deduction if he is 73 years old and blind, filing as Single using Form 1040?

Study for the VITA Tax Basics Exam. Get prepared with flashcards, multiple choice questions, hints, and explanations. Be ready for your test!

For the tax year 2023, the standard deduction for a single filer is $13,850. However, individuals who are 65 or older or who are blind can qualify for additional amounts added to the standard deduction. In Sherman's case, as he is 73 years old and blind, he qualifies for both additional amounts.

The additional amount for being age 65 or older is $1,850, and there is also an additional amount for being blind, which is another $1,850. Therefore, the total additional amounts due to Sherman's age and blindness would be $1,850 (for age) + $1,850 (for blindness), totaling $3,700.

To find Sherman's standard deduction, you start with the base deduction for a single filer ($13,850) and add the total additional amount ($3,700):

$13,850 + $3,700 = $17,550.

Therefore, it's important to calculate carefully as the correct result is different from the given choices. The calculation should give Sherman's total standard deduction as $17,550 for the year 2023, which doesn't match the provided options. Thus, while the reasoning clarifies how the additional amounts contribute to the overall deduction

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