IF RON WERE 69 YEARS OLD INSTEAD OF 57, HE WOULD HAVE A STANDARD DEDUCTION OF
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| Filling status | Standard deduction if less than 65 years | Additional standard deduction if age more than 65 years | Total standard deduction if age more than 65 years |
| Single | 12,200.00 | 1,650.00 | 13,850.00 |
| Head of Household | 18,350.00 | 1,650.00 | 20,000.00 |
| Married filling separately | 12,200.00 | 12,200.00 | 24,400.00 |
| Married filling jointly | 24,400.00 | 1,300.00 | 25,700.00 |
| Qualifying widower | 24,400.00 | 24,400.00 | 48,800.00 |
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IF
RON WERE 69 YEARS OLD INSTEAD OF 57, HE WOULD HAVE A STANDARD
DEDUCTION OF
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Ken is 64 years old and unmarried. He retired at age 57 when he sold his business, Understock.com. Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken files as a single taxpayer. 1. Ken won $1,400 in an illegal game of poker (the game was played in Utah, where gambling is illegal). 2. Ken sold 1,000 shares of stock for $29 a share. He inherited the stock two years ago....
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