The IRS allows every taxpayer, based on your filing status, to deduct a flat dollar amount from your Adjusted Gross Income (AGI).
Tax year 2022 Standard Deduction amounts:
2022 Standard Deduction Amounts:
- Single or Married Filing Separately (MFS) $12,950
- Married Filing Joint (MFJ) or Qualified Widow(er) $25,900
- Head of Household (HOH) $19,400
2022 Additional age 65 or older, or blind, per person, per event:
- Married Filing Joint, Qualifying Widow(er), or Married Filing Separate $1,400
- Single or Head of Household $1,750
Tax year 2021 Standard Deduction amounts:
2021 Standard Deduction Amounts:
- Single or Married Filing Separately (MFS) $12,550
- Married Filing Joint (MFJ) or Qualified Widow(er) $25,100
- Head of Household (HOH) $18,800
2021 Additional age 65 or older, or blind, per person, per event:
- Married Filing Joint, Qualifying Widow(er), or Married Filing Separate $1,350
- Single or Head of Household $1,700
As a result of numerous changes to itemized deductions, many tax payers will elect to use the standard deduction. You can read more about changes to itemized deductions here.
For a complete list of prior year Standard Deductions, visit our Knowledgebase Article.