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Jimmargaretbird
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what is covered by the standard deduction?

 
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what is covered by the standard deduction?

"Covered?"   The standard deduction reduces the amount of your income that you pay tax on.

 

Explain Standard Deduction—What is it?

https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-my-standard-deduction/00/26370

**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.**

what is covered by the standard deduction?

The standard deduction is a specific dollar amount that reduces your taxable income. 

The Standard Deduction is based on your filing status and age.  It is used for all taxpayers who do not use or do not have more itemized deductions then the standard deduction.

 

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

 

Standard deductions for 2021

  • Single - $12,550 add $1,700 if age 65 or older
  • Married Filing Separately - $12,550 add $1,350 if age 65 or older
  • Married Filing Jointly - $25,100 add $1,350 for each spouse age 65 or older
  • Head of Household - $18,800 add $1,700 if age 65 or older
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