The standard deduction is a fixed dollar amount that reduces the amount of income you get taxed on. Think of it as tax-free income that you get to keep before taxes are applied to the rest.
The Tax Cuts and Jobs Act that was signed into law in late 2017 substantially increased the standard deduction for tax years 2018 through 2025.
Select your filing status below to get your 2020 standard deduction amount. Please note that if someone else claims you (or your spouse, if you're filing jointly) as their dependent, your standard deduction will be less than the amounts shown below.