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Standard deduction 2025: What it is and how it works | Fidelity Key takeaways The standard deduction is a flat amount that reduces your taxable income and potentially your tax bill The amount, set by the IRS, could vary by tax year and filing status—generally, single, married filing jointly, married filing separately, or head of household
Standard Deduction for Married Filing Jointly: Strategy and Examples For married couples filing jointly, it reflects the higher living costs of two taxpayers while simplifying the filing process Instead of tracking and documenting every eligible expense, you can take this deduction automatically
Standard deduction hits $31,500 for married filers in 2025 - MSN The standard deduction is set to climb again for the 2025 tax year, with married couples filing jointly able to shield $31,500 of income from federal income tax That higher threshold will shape
2025 Standard Deduction Increases: Amounts Itemizing Guide The 2025 Standard Deduction increases to $15,000 for singles and $30,000 for married couples, raising the bar for itemization Last Updated: 2025-11-27 Confirmed 2025 Increases: The Standard Deduction rises to $15,000 for Single filers and $30,000 for Married Filing Jointly Senior Bonus: Filers aged 65+ get an additional $1,600 (married) or $2,000 (single) deduction per person Itemization
What are the standard deduction amounts for 2025 by fi. . . What the headline numbers are — the base standard deductions For 2025 the Congressional Research Service lists the base standard deduction amounts as $15,000 for single filers and married filing separately, $22,500 for heads of household, and $30,000 for married couples filing jointly and surviving spouses; those are the figures used to
Standard Deductions for 2026 Tax Year Chart - AKIF CPA Additionally to note: for the tax year 2025, the OBBB raises the standard deduction amount to $31,500 for married couples filing jointly For single taxpayers and married individuals filing separately, the standard deduction for 2025 is $15,750, and for heads of households, the standard deduction is $23,625
How to Claim the Standard Deduction for Married Filing Jointly For the tax year 2025, the standard deduction for married couples filing jointly is $29,200 This means you can reduce your taxable income by this amount, which can significantly impact the amount of taxes you owe
Standard Deduction 2025: What It Is How It Works For 2025, amounts range from $15,750 for single filers to $31,500 for married couples filing jointly Most taxpayers choose the standard deduction because it's simpler than itemizing deductions Additional deductions of $1,600-$2,000 apply for taxpayers over the age of 65 or who are blind