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Is the standard deduction for a couple still 25000

is the standard deduction for a couple still 25000
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3 Replies

Is the standard deduction for a couple still 25000

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2023 Form 1040.

 

 

 

 

2023 STANDARD DEDUCTION AMOUNTS

 

SINGLE $13,850  (65 or older/legally blind + $1850)

 

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

 

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

 

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
DMarkM1
Expert Alumni

Is the standard deduction for a couple still 25000

No. The standard deduction for married filing jointly both under age 65 is $27,700 for tax year 2023. 

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Is the standard deduction for a couple still 25000

The 2023 standard deduction for tax returns filed in 2024 is $13,850 for single filers, $27,700 for joint filers or $20,800 for heads of household. People 65 or older may be eligible for a higher amount.

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