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Deductions & credits
Here are the 2020 standard deductions amounts for each filing status:
Filing Status | Standard Deduction |
Single | $12,400 |
Married Filing Jointly or Qualifying Widow(er) | $24,800 |
Married Filing Separately | $12,400 |
Head of Household | $18,650 |
There is an additional standard deduction of $1,300 for taxpayers who are over age 65 or blind. The amount of the additional standard deduction increases to $1,650 for taxpayers who are unmarried.
March 22, 2021
4:26 PM