Feb 27, 2025 · Your standard deduction depends on your filing status, age and whether a taxpayer is blind. Learn how it affects your taxable income and any limits on claiming it.

The standard deduction for taxpayers who don't itemize their deductions on Schedule A (Form 1040) is higher for 2024 than it was for 2023. The amount depends on your filing status. You can use the 2024 Standard Deduction Tables near the end of …

Standard Deduction Chart for People Born Before January 2, 1957, or Who are Blind Don’t use this chart if someone can claim you (or your spouse if filing jointly) as a dependent. Use the second worksheet below.

Table 1 shows the fil-ing requirements for most taxpayers. Standard deduction increased. The stand-ard deduction for taxpayers who don't itemize their deductions on Schedule A (Form 1040) is higher for 2024 than it was for 2023. The amount depends on your filing status. You can use the 2024 Standard Deduction Tables near the end of this ...

Some taxpayers may need to use the standard deduction worksheet in the Form 1040 Instructions. What are deductions? What do I need? Deductions are subtractions from a taxpayer’s AGI. They reduce the amount of income that is taxed. Most taxpayers have a choice of taking a standard deduction or itemizing their deductions.

Feb 26, 2025 · How Does the Standard Deduction Work? If you claim the standard deduction, you’ll simply enter the available standard deduction on your Form 1040. The standard deduction amount will be...

Section 63 (c) (2) provides the standard deduction for use in filing individual income tax returns. See all standard deductions by year and legislative history.

Oct 22, 2024 · For 2025, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,350 or the sum of $450 and the individual’s earned...

2024 Standard Deduction Amounts: A person is considered to reach age 65 on the day before his or her 65th birthday. If the taxpayer or spouse is legally blind and/or born before January 2, 1958, the following additions are added to the standard deduction for each occurrence: 2023 Standard Deduction Amounts:

Mar 18, 2025 · What is the standard deduction? The standard deduction is a fixed amount you can subtract from your income to reduce how much of it is taxed. The IRS lets most people take the standard...