The Standard Deduction is a fixed amount as shown on the Federal Tax Return Form 1040 Line 12.
Standard deductions for 2020
- Single - $12,400 add $1,650 if age 65 or older
- Married Filing Separately - $12,400 add $1,300 if age 65 or older
- Married Filing Jointly - $24,800 add $1,300 for each spouse age 65 or older
- Head of Household - $18,650 add $1,650 if age 65 or older
If your itemized deduction on Schedule A are greater than the standard deduction for your filing status the itemized deductions will be used on Form 1040 Line 12.
