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2. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Under United States tax law, the standard deduction is a dollar amount that non-itemizers may subtract from their ... 2020 [10] $12,400 $24,800 $18,650 2019 [11] $12,200:

3. A Guide to Tax Breaks for Medical Expenses for Seniors - AOL

   www.aol.com/guide-tax-breaks-medical-expenses...

   In 2020, the standard deduction is $12,400 for single taxpayers and $24,800 for married filing jointly. Married taxpayers who are 65 and older can each claim an extra $1,300 standard deduction (or ...

4. Retirees Often Overlook These 11 Tax Deductions - AOL

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   Here are 11 tax deductions senior citizens should know about. ... Before 2020, individuals who were 70.5 years of age or older were not eligible to make regular contributions to traditional IRAs ...

5. Tax breaks after 50 you might not know about - AOL

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   Here are additional 2025 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,600 per person over 65 ...

6. Form 1040 - Wikipedia

   en.wikipedia.org/wiki/Form_1040

   The Individual Income Tax Act of 1944 created standard deductions on the 1040. [67] The tax return deadline was original set at March 1. This was changed to March 15 in the Revenue Act of 1918, and in the Internal Revenue Code of 1954, the tax return deadline was changed to April 15 from March 15, [67] as part of a large-scale overhaul of the ...

7. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   The standard deduction reduces a taxpayer’s taxable income, ensuring that only households with income above certain thresholds will owe income tax. The standard deduction amounts for 2023 are ...

8. Personal exemption - Wikipedia

   en.wikipedia.org/wiki/Personal_exemption

   Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations.

9. IRS Tax Brackets: Here’s How Much You’ll Pay in ... - AOL

   www.aol.com/finance/irs-tax-brackets-much-ll...

   For tax year 2020, the standard deduction rises from 2019 levels to $12,400 for single filers, $24,800 for married filing jointly, $12,400 for married filing separately and $18,650 for heads of ...