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The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for married filing jointly if only one partner is over 65 (or $28,700 if both are), and ...
Married filing jointly: $27,700 ($29,200 if you or your spouse is 65 or older; or $30,700 if you’re both over 65). Married filing separately: $5 at any age. Head of household: $20,800 ($22,650 ...
The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...
Under United States tax law, the standard deduction is a dollar amount that non-itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax ...
Basically, if you’re 65 or older, you have to file a tax return in 2022 if your gross income is $14,700 or higher. If you’re married filing jointly and both 65 or older, that amount is $28,700.
For those 65 or older or blind, the additional standard deduction for married taxpayers or qualified widows(ers) is $1,400, an increase of $50. This applies to tax returns filed in 2023 .
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