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What forms are needed for 2022 taxes?

Some common ones include: W-2s from your employer(s) 1099-G forms for unemployment income and state or local tax refunds. 1099-INT, 1099-DIV, and 1099-B for interest, dividends, and stock sales. 1099-R and SSA-1099 for retirement plan distributions and Social Security benefits.

Is there a new 1040 form for 2022?

The IRS has released a draft version of Form 1040 for the tax year 2022, along with drafts of related forms and schedules. The Form 1040 draft includes an expanded question on virtual currencies, which are referred to as digital assets in the updated question.

What are the changes in IRS for 2022?

The standard deduction increased slightly After an inflation adjustment, the 2022 standard deduction increases to $12,950 for single filers and married couples filing separately and to $19,400 for single heads of household, who are generally unmarried with one or more dependents.

Do seniors get an extra income tax deduction?

Bigger Standard Deduction for Seniors 65 and Older If you dont itemize your tax deductions, you can claim a larger standard deduction if you or your spouse are age 65 or older. The standard deduction for seniors is $1,750 higher than the deduction for people younger than 65 who file as individuals.

Do people over 65 get a larger standard deduction?

Increased Standard Deduction When youre over 65, the standard deduction increases. The specific amount depends on your filing status and changes each year. The standard deduction for seniors this year is actually the 2022 amount, filed by April 2023.

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