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The standard deduction will go up to $15,000 for 2025 tax returns — up $400 from 2024 − for single taxpayers and married people filing separately.. The standard deduction climbs to $30,000 − ...
2024 standard deduction amount. Single. $14,600 (up $750 from 2023) ... 2025 tax season calendar: Key dates and deadlines to remember ... Florida, Georgia, North Carolina, and South Carolina and ...
The standard deduction will go up for 2025 tax returns by $400 from 2024 for single taxpayers and married individuals filing separately. ... The top tax rate is 37% in 2025 for individual single ...
In 2017, before the TCJA went into effect, the standard deduction was $6,350 for single filers and $12,700 for joint filers. As of tax year 2025, those amounts are now $14,600 and $29,200 ...
Standard deduction in 2023 70-year-old single individual $13,850 + $1,850 = $15,700 40-year-old single individual who is blind $13,850 + $1,850 = $15,700 Married couple, ages 78 and 80, one of whom is blind $27,700 + $1,500 + $1,500 + $1,500 = $32,200 Dependent who earns $200 in 2023 $1,250 (minimum standard deduction for dependents)
“If you don’t have enough to exceed the standard deduction — single: $14,600, joint: $29,200, head of household: $21,900 — don’t waste your time collecting all the detailed information ...
Most taxpayers opt for the standard deduction vs. itemizing. The standard deduction will increase to the following amounts in 2025: Single filers: $15,000. Heads of household: $22,500. Married ...
New IRS tax brackets for 2025. ... The agency also increased the standard deduction to $15,000 for those filing individually (an increase of $400 from 2024) and $30,000 for married couples filing ...