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 (filed in 2023):
2022 Standard Deduction Amounts:
- Single or Married Filing Separately (MFS) $12,950
- Married Filing Joint (MFJ) or Surviving Spouse $25,900
- Head of Household (HOH) $19,400
2022 Additional age 65 or older or blind
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:
- Married Filing Joint, Surviving Spouse, or Married Filing Separate $1,400
- Single or Head of Household $1,750
The standard deduction for a dependent claimed on another's return is:
- $1,150 OR
- $400 plus the dependent's earned income (not to exceed the standard deduction amount for their filing status)
Personal Exemptions- ELIMINATED as of 2018