Filing status2024 standard deduction amount Single$14,600 Head of household$21,900 Married filing jointly$29,200 Qualifying surviving spouse$29,200 Married filing separately$14,600 Standard deduction for 2025 Here are the current standard deduction amounts for 2025, for returns filed in 2026. ...
2024 standard deduction Single; Married filing separately $14,600. Married filing jointly; Surviving spouse $29,200. Head of household $21,900. Source: Internal Revenue Service Standard deduction 2025 (taxes due 2026) The standard deduction for 2025 is $15,000 for single filers and married peop...
Deciding between the standard deduction vs itemized deductions? Weigh the benefits by considering factors like charitable donations, medical costs, and mortgage interest.
TurboTax May 1, 2024 11:51 AM EDTStart Conversation Key takeaways Claiming the standard deduction is easier, because you don’t have to keep track of expenses. The 2023 standard deduction is $13,850 for single taxpayers ($20,800 if you’re filing as head of household), $27,700 for ...
The amount of your Standard Deduction depends on the filing status you qualify for. In 2024, for example, single taxpayers and married taxpayers who file separate returns can claim a $14,600 Standard Deduction. Married couples filing jointly can claim an amount that's twice as large, $2...
THANKS TO THE 2017tax law, the standard deduction is roughly double the old level. In 2024, it’s $29,200 if your tax-filing status is married filing jointly, $21,900 for heads of household and $14,600 for single individuals. For 2025’s tax year, those figures rise to $30,000 fo...
Standard Deduction Amounts The 2023standard deductionamounts are as follows: Single or married filing separately: $13,850 Married filing jointly: $27,700 Head of household: $20,800 The additional standard deduction for people who have reached age 65 (or who are blind) is $1,500 for each ...
*The Standard Deduction in 2024 for single taxpayers is $14,600. With TurboTax Live Full Service, a local expert matched to your unique situation will do your taxes for you start to finish. Or, get unlimited help and advice from tax experts while you do your taxes with TurboTax...
Single$14,600$15,000 Married Filing Separately$14,600$15,000 The current standard deductions are a significant upgrade from levels before the Tax Cuts and Jobs Act was passed. For example, in the 2017 tax year, the standard deduction was $6,350 for single filers and $12,700 for married...
Standard Deductions for 2023 and 2024 Filing Status2023 Standard Deduction2024 Standard Deduction Single $13,850 $14,600 Married Filing Separately $13,850 $14,600 Heads of Household $20,800 $21,900 Married Filing Jointly $27,700 $29,200 As noted above, the federal income tax system and som...