QUICK TAX FACTS

STANDARD DEDUCTIONS
Publication 501
EGTRRA TAX LAW 2001 CHANGES EFFECTIVE 2005
JGTRRA 2003 accelerates EGTRRA 2001 year 2009 provisions to years 2003 and 2004

 

Filing status	Other qualifiers	Deduction amount
Single (S)	Under 65 and not blind	$5,150
Head of Household (HH)	Under 65 and not blind	7,550
Married Joint (MJ) or Qualifying Widow (QW)	Under 65 and not blind	10,300
Married Separate (MS)	Under 65 and not blind	5,150

 

Add to above deduction (for each spouse):

	(S)	(HH)	(MJ)	(QW)	(MS)
65 or older	$1,250	$1,250	$1,000	$1,000	$1,000
Blind	1,250	1,250	1,000	1,000	1,000

 

For dependent returns, the standard deduction is the greater of $850, or Earned income plus $300, and is limited to:

(S) or (MS)	$5,150
(MJ) or (QW)	10,300
(HH)	7,550

 

The information provided in this "Quick Tax Facts" section is intended as a general guideline only. For the most detailed and up-to-date information, contact us at 518-783-7200, or visit www.irs.gov.

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