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For couples who file jointly, that standard deduction will be $30,000 for 2025, an $800 jump from the year prior. And heads of households will get a $22,500 standard deduction, up $600 from 2024.
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 − ...
The standard deduction will go up for 2025 tax returns by $400 from 2024 for single taxpayers and married individuals filing separately. ... 24% for incomes over $103,350 ($206,700 for married ...
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 ...
For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).
For married couples filing jointly for tax year 2024, the deduction increased to $29,200, up $1,500 from tax year 2023, the IRS said. The IRS noted that for the head of household, the standard ...