Standard Deduction Every Filing Status
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The Internal Revenue Service recently announced the standard deduction that’s going to be effective for the 2024 tax year, which you’ll file a tax return in 2024. The 2023‘s standard deduction has seen significant improvements compared to the previous years, jumping at least $400 per taxpayer.
The standard deduction has gotten a considerable boost compared to the current and previous tax seasons. The yearly increase was between $150 and $200 since the Tax Cuts and Jobs Act of 2017. The 2024 standard deduction is almost as high as the total increase since then. This gain is primarily due to the inflation skyrocketing in the United States.
Regardless, the boost will make even more taxpayers take the standard deduction over itemizing on their federal income tax returns. Nevertheless, you should see the itemized deductions you’re eligible to claim and see if they can reduce your taxable income for the better – more on that below.
What is the standard deduction for 2023 – 2024
The table below shows the standard deduction 2024 for every filing status: single, married filing jointly, married filing separately, head of household, and qualifying widow(er).
| Filing Status | 2023 Standard Deduction |
|---|---|
| Single | $12,950 |
| Married, Filing Jointly | $25,900 |
| Married, Filing Separately | $12,950 |
| Head of Household | $19,400 |
| Qualifying Widow/Widower | $25,900 |
| Filing Status | 2021 | 2022 |
|---|---|---|
| Single – Married Filing Separately | $12,550 | $12,950 |
| Married Filing Jointly – Qualifying Widow(er) (surviving spouse) | $25,100 | $25,900 |
| Head of Household | $18,800 | $19,400 |
The 2023 standard deduction refers to the standard deduction you can claim for your 2023 taxes, which you’ll file a return for in 2024. 2024 refers to the standard deduction amount you can claim in 2024 when you file your 2024 tax return.
Standard deduction for elderly and legally blind
The standard deduction gets an additional boost if you’re a senior citizen. However, this extra amount is determined by your filing status. Those 65 or older and are single or heads of households receive a $1,700 increase, totaling the standard deduction 2021 – 22 to $14,250.
If married filing jointly, and you or your spouse is over 65, this additional amount is reduced to $1,350. This isn’t just for married couples filing a joint return. Those filing a separate return with their spouse also get a $1,350 increase.
In this case, the total standard deduction is $26,450. If both spouses are 65 or older, the total increase is $2,700, finalizing the standard deduction at $27,800. The same also goes for taxpayers that are considered legally blind. Here is a table summarizing the standard deduction amounts for senior taxpayers and the legally blind.
| Filing Status | 2021 | 2022 |
|---|---|---|
| Single | $14,250 | $14,700 |
| Married Filing Separately | $13,900 | $14,350 |
| Head of Household | $20,500 | $21,150 |
| Married Filing Jointly, you OR your spouse is 65 or older or legally blind | $26,450 | $27,300 |
| Married Filing Jointly, you AND your spouse is 65 or older or legally blind | $27,800 | $28,700 |
When entering the standard deduction, don’t enter the above amounts on Form 1040. Check the box that applies to you next to “standard deduction” on your federal income tax return. You’ll be asked to check the box if you were born before January 2, 1957, or are blind – do the same for your spouse as well if filing a joint return.
Itemized vs. Standard Deduction
Comparing itemized deductions and the standard deduction is different for every taxpayer. After all, the itemized deductions are there for certain expenses, and these expenses aren’t the same for everyone.
Still, we can comfortably say that if you’re paying a mortgage, state and local taxes, and have unreimbursed out-of-pocket medical expenses, the likelihood of itemized deductions being more than the standard deduction is exceptionally high. This is exceptionally higher for taxpayers that are single or filing as heads of households. The bottom line is you need to calculate to see it yourself. If one is higher than the other, that’s the one you should claim on your federal income tax return.
Standard deduction amounts after the TCJA
| FILING STATUS | 2017 (Before TCJA) | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Single – Married Filing Separately | $6,350 | $12,000 | $12,200 | $12,400 | $12,550 | $12,950 |
| Married Filing Jointly – Qualifying Widow(er) (surviving spouse) | $12,700 | $24,000 | $24,400 | $24,800 | $25,100 | $25,900 |
| Head of Household | $9,350 | $18,000 | $18,350 | $18,650 | $18,800 | $19,400 |
FAQs
Does AGI include standard deduction?
Your adjusted gross income is before any tax deduction. Your AGI doesn’t include the standard deduction or any other deduction for that matter. It’s simply after the additional income you report on Schedule 1 and the adjustments you make to your total gross income. First, fill out Schedule 1, Additional Income and Adjustments to Income, and find your AGI. From there, you can calculate your taxable income by subtracting the deductions you can claim.
Can I claim charitable contributions with the standard deduction?
You can claim certain charitable contributions with the standard deduction. The limit for this is $300 per person, so married couples filing a joint return can get up to $600. Make sure that the charitable organizations you’ve made donations to are qualifying organizations. Most charities in the United States will make you qualified for this tax deduction, including churches.
How does the standard deduction work?
The standard deduction is pretty much automatic. You don’t need to file additional tax forms, unlike itemizing deductions. You can claim it on your federal income tax return right away and be done with it. Check the above tables to see how much standard deduction cuts off of your taxable income.
Can I itemize and take the standard deduction?
No. You can’t both itemize and take the standard deduction. You must choose either one of them. We highly suggest filling out Schedule A, Itemized Deductions to see if itemizing is worth more than the standard deduction for you. If so, itemize over the standard deduction. If not, take the standard deduction. If they’re both at a very close amount where your itemized deductions are worth more, and it doesn’t change the outcome of your tax bill by much – say $10 or so, it might be worth taking the standard deduction instead as it’s less work.
