Deductions & credits

Personal exemptions were removed from the tax code after 2017.  The Standard Deduction were increased.  The Child Tax Credit was increased.  A new credit for dependents age 17 or older was created, Other Dependent Tax Credit.

 

Standard deductions for 2019

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older