That law almost doubled the standard deduction and reduced the itemized deductions available to taxpayers.2024 standard deduction amountsHere is the standard deduction by filing status for 2024, for returns filed in 2025.Filing status2024 standard deduction amount Single $14,600 Head of household $...
For 2023, the standard deduction numbers to beat are: Single taxpayers: $13,850 Married taxpayers filing a joint return: $27,700 Heads of household: $20,800 Those are the numbers for most people, but some get even higher standard deductions. If you're 65 or older or blind or both, yo...
The pressure of a looming tax deadline may make it easier to take the standard deduction rather than itemize your deductions, but you should weigh this question carefully. Here are a few key areas to consider — including charitable donations, medical de
For 2023 (taxes filed in 2024), the standard deduction will increase to $27,700 for married couples filing jointly, $20,800 for heads of household, and $13,850 for single taxpayers. You should absolutely itemize your deductions and save money if your standard deduction is less than your ac...
Head of household $21,900. Source: Internal Revenue Service » MORE: IRS announces 2025 tax changes, updated standard deduction Standard deduction 2025 The standard deduction for the 2025 tax year (tax returns filed in 2026) is $15,000 for single filers and married people filing separately, ...
Filing Status2022 Deductions2023 Deductions Single$12,950$13,850 Head of Household$19,400$20,800 Married Filing Jointly$25,900$27,700 Married Filing Separately$12,950$13,850 Qualifying Widow(er)$25,900$27,700 Special Adjustments for Standard Deductions ...
This was offset by an increase in the standard deduction, though that is little solace to folks who regularly itemize their deductions. 2025 Single vs. Head of Household Ever wonder what the difference is between a single filer and a head of household filer? The head of household filing ...
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 married taxpayer or $1,850...
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...
Heads of Household$20,800$21,900 Married Filing Jointly$27,700$29,200 Surviving Spouses$27,700$29,200 Taxpayers at least 65 years oldorblind can claim an additional standard deduction. For 2023, the amount rose to $1,500 ($1,850 for single filers and heads of household).4For 2024, ...