Most taxpayers claim the standard deduction — a fixed amount that reduces the income on which you are taxed. Here are the standard deduction amounts according to filing status.
- Single or Married Filing Separately — $5,700
- Married Filing Jointly or Qualifying Widow(er) — $11,400
- Head of Household — $8,400
If you are 65 or older and Married Filing Jointly or a Qualifying Widower you can add $1,100 to these figures ($1,400 if you are single or the Head of Household). You can also add $1,100 (or $1,400, depending on your filing category) if you are blind.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.