$12,200 for
For single taxpayers and married individuals filing separately, the standard deduction rises to $12,200 for 2019, up $200, and for heads of households, the standard deduction will be $18,350 for tax year 2019, up $350.

What is the standard personal deduction for 2020?

$12,400
For single taxpayers and married individuals filing separately, the standard deduction rises to $12,400 in for 2020, up $200, and for heads of households, the standard deduction will be $18,650 for tax year 2020, up $300.

What are deductions What is the standard deduction for individuals?

The standard deduction is a specific dollar amount that reduces your taxable income. In 2020 the standard deduction is $12,400 for single filers and married filing separately, $24,800 for married filing jointly and $18,650 for head of household.

What’s the standard deduction for a single person?

For the 2020 tax year, which we file in early 2021, the federal standard deduction for single filers and married folks filing separately is $12,400. It’s $24,800 if you’re a surviving spouse or you’re married and you’re filing jointly. If you’re the head of your household, it’s $18,650.

How is the standard deduction determined for 2019?

As mentioned previously, generally the amount you can deduct via the standard tax deduction will depend on how you’re filing your taxes. Your filing status determines your standard deduction. For 2019, your standard deduction based on your filing status is as follows: Most of these are percentage increases of 1.67% on the year prior.

What’s the standard deduction for the Head of Household?

Individuals who are at least partially blind or at least 65 years old get a larger standard deduction. If you’re single, you’re married and filing separately or you’re the head of household, your standard deduction amount can increase by $1,650.

Is the standard deduction based on filing status?

As mentioned previously, generally the amount you can deduct via the standard tax deduction will depend on how you’re filing your taxes. Your filing status determines your standard deduction. For 2019, your standard deduction based on your filing status is as follows: