What does it mean if I take the standard deduction?

Created by Shubha Bisht, Modified on Wed, 24 Jan at 3:36 PM by Shubha Bisht

What is the standard deduction?

The standard deduction is a set dollar amount that reduces your taxable income that may apply to every taxpayer. You can decide to either take a standard deduction or to itemize your expenses if they are more than the standard deduction.

This amount changes year to year.

What are the standard deduction amounts?

	2022	2023
Single/Married Filing Separately	$12,950	$13,850
Head of Household	$19,400	$20,800
Married Filing Jointly	$25,900	$27,700

What is an additional standard deduction?

If you’re 65 or older, or blind, you’re able to get an additional standard deduction. More information can be found in Publication 501.

	2022	2023
Single/Head of Household, Married Filing Separately	$1,750	$1,850
Married Filing Jointly (per taxpayer)	$1,400	$1,500

What if someone else is claiming me as a dependent? How much is my standard deduction?

If you can be claimed as a dependent, your standard deduction is the greater of $1,150 or your earned income plus $400. However, your total can’t be more than the basic standard deduction for your filing status.

Am I eligible for the standard deduction?

Most taxpayers may be eligible for the standard deduction. The following lists taxpayers that are not eligible for the standard deduction. If below doesn’t apply to you, it’s likely that you’re eligible for the deduction.

An estate or trust, common trust fund or partnership.
A married person filing as married filing separately whose spouse itemizes deductions.
A person who files a return for a period of less than 12 months due to a change in their annual accounting period.
A person who was a nonresident alien or dual status alien during the year aside from the exceptions listed below:
- A non-resident alien who is married to a U.S. citizen or resident alien at the end of the tax year and makes a joining election with them to be treated as a U.S. resident for the entire tax year.
- A nonresident alien at the beginning of the tax year who is a U.S. citizen or resident by the end of the tax year, is married to a U.S citizen or resident at the end of the tax year and makes a joint election with their spouse to be treated as a U.S. resident for the entire year.

Additional Resources:

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