Question

Which of the following has the lowest standard deduction? Select one: a. Single, 65 years old and blind b. MFJ, taxpayer is 59 years old & spouse is 66 years old c. HOH, 65 years old d. HOH, 55 years old e. None of these

Answer 1

The answer is d. HOH, 55 years old.

Step-by-step explanation:

The standard deduction is a tax deduction that is available to taxpayers who do not itemize their deductions. It is based on the taxpayer's filing status and age.

For tax year 2021 (filed in 2022), the standard deduction for a single taxpayer who is 55 years old or older is $12,550. For a head of household (HOH) taxpayer who is 55 years old or older, the standard deduction is $18,800.

For comparison, the standard deduction for a single taxpayer who is 65 years old or older and blind is $15,100. For a married filing jointly (MFJ) taxpayer where one spouse is 59 years old or older and the other spouse is 66 years old or older, the standard deduction is $25,100.

Answer 2

The head of household who is 65 years old has the lowest standard deduction.

Step-by-step explanation:

The correct answer is c. HOH, 65 years old. Head of Household (HOH) is a filing status for individuals who are unmarried or considered unmarried for tax purposes and provide the main support for a household.

In this case, a HOH who is 65 years old would have the lowest standard deduction compared to the other options given.