SC Standard Deduction

Forum|Forum|2 years ago
March 12, 2024
1 reply
9 views

GM

Client moved from PA to SC in 2022. SC allowed for an allocation of the standard deduction on the PY return for 2022.

For 2023 when I look at SC Resident return I do not see a standard deduction.

Thanks

ProSeries Professional

This topic has been closed for replies.

Camp1040

Level 10

GOOGLE!....Officially, South Carolina does not have standard deductions; however, they technically apply the federal standard deductions when calculating taxable income.

J

jzellmanAuthor

Level 3

Thanks

Total Income is $62,327

Deductions $31,884

SC Income subject to tax $30,443

Tax from tax table is $1,279

I dont see the deduction unless its included in the calculation

Thanks

Camp1040

Level 10

South Carolina has a simplified Income Tax structure which follows the federal Income Tax laws. South Carolina accepts the adjustments, exemptions, and deductions allowed on your federal tax return with few modifications. Your federal taxable income is the starting point in determining your state Income Tax liability. Individual Income Tax rates range from 0% to a top rate of 7% on taxable income for tax years 2021 and prior, from 0% to a top rate of 6.5% on taxable income for tax year 2022, and from 0% to a top rate of 6.4% on taxable income for tax year 2023. Tax brackets are adjusted annually for inflation.

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