What Is The Standard Deduction For 2020 Over 65. For tax year 2021 what you file in early 2022 the standard deduction is 12550 for single filers 25100 for joint filers and 18800 for heads of household. Tax deductions lower your tax burden by lowering your taxable income and you can either claim the standard deduction or itemize your deductions when you file.
Filing status Standard deduction amount 1 Single and can be claimed as a dependent on another taxpayers federal return 3100 1 Single and cannot be claimed as a dependent on another taxpayers federal return 8000 2 Married filing joint return. Married over 65 age. If you are Married Filing Jointly and you OR your spouse is 65 or older your standard deduction increases by 1350.
If one of you is legally blind it increases by 1350 and if.
Married over 65 age. You must have provided over 50 of the dependents support in 2019. Enter the smaller of line 2 or line 3. The standard deduction for 2020 is 12400 for singles and 24800 for married joint filers.
