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Can I deduct the standard deduction on my tax return?
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| The standard deduction is a
fixed dollar amount that reduces the amount of income on which
you pay tax on your tax return. The amount of the basic standard deduction depends upon your
tax return filing status.
However, if you can be claimed as a dependent on someone else’s tax return, your
standard deduction amount may be different. In some cases, the standard deduction
on your tax
return can consist of
two parts, the basic standard deduction, and an additional standard deduction amount for
age, blindness, or both.
If a person is born or dies before the end of his or her tax
year, the tax year is considered to cover a 12-month period.
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If
the taxpayer's filing status is: |
The
standard deduction is: |
If 65 or
over AND/OR blind add for EACH
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| Single |
$5,700 |
$1,400 |
| Married filing
a joint tax return or
Qualifying widow(er) with dependent child |
$11,400 |
$1,100
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| Married filing
a separate tax return |
$5,700 |
$1,100 |
| Head of Household |
$8,350 |
$1,400 |
| Dependent Children |
The greater of
$950 OR the amount of
earned income, plus $300. Not to exceed $5,700 unless the dependent is
blind. If blind add $1,400. |
Non-itemizer
Property Tax
Standard Deduction Add-on |
Single |
Married Filing
Jointly |
| Up to $500 |
Up to $1,000 |
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Related tax
information about the standard deduction |
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Itemized Tax Deductions |
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IRS publications about
the standard deduction:
For more information refer to IRS Publication 501, Exemptions
and Standard Deduction and IRS Publication 17, Your Federal
Income Tax. |
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Ask Julian Block your IRS and tax questions! |
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If you can't find the answer to your IRS or tax question in our
web you can call former IRS Special Agent and one of the country's foremost tax attorneys, nationally syndicated columnist ("The Tax
Adviser") Julian Block. Julian is also the tax Editor of Mutual Funds Magazine, America's premier investment magazine. To
call Julian for a tax consultation click
here. |
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