Tax Topic

Standard deduction

The 2017 Tax Cut and Jobs Act nearly doubled the standard deduction. The standard deduction for 2020 is:

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Single $12,550 (up from $12,400 in 2020)
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Married filing jointly, qualified widow(er)   $25,100 (up from $24,800 in 2020)
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Married filing separately $12,550 (up from $12,400 in 2020)
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Head of household $18,800 (up from $18,650 in 2020)







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