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Get your taxes done using TurboTax
The Standard Deduction is based on your Filing Status and if your itemized deductions on Schedule A are less than the Standard Deduction for your filing status. It is not dependent on whether or not your are reporting on Self-Employment Income and Expenses on Schedule C.
Standard deductions for 2022
Single - $12,950 add $1,750 if age 65 or older
Married Filing Separately - $12,950 add $1,400 if age 65 or older
Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
Head of Household - $19,400 add $1,750 if age 65 or older
‎September 27, 2023
1:55 PM