What is the standard tax deduction?
By Forinfos - 23/02/2025 - 0 comments
The standard tax deduction is the set amount a tax filer can deduct from income on a federal tax return without itemizing deductions, according to TurboTax. For tax year 2015, the standard deduction is $6,300 for single tax filers and $12,600 for married couples filing jointly, according to Forbes.
The standard deduction for a married couple filing separately equals the single deduction of $6,300 per person, according to Forbes. A head of household filer can take a standard deduction of $9,250, and a surviving spouse can take $12,600. Tax filers can either take the standard deduction when filing a return or itemize deductions, reports TurboTax.
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