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Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. Married, filing jointly: $25,900 for 2022, $27,700 for 2023.
The standard deduction is distinct from the personal exemption, ... 2022: $12,950 $25,900 $19,400 ... (maximum standard deduction for single filing status in 2023)
The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...
Should You Claim The Standard Deduction Or Itemize? ... These are the standard deduction amounts for tax year 2021, which you file in 2022: Single: $12,550. Married filing jointly: $25,100.
In addition to these deductions, filers ages 65 and older and/or those who are blind can apply for an additional standard deduction. Married filers who apply the additional standard deduction ...
The following steps apply the procedure outlined above: (1) Because he is single, the pertinent rate table is Schedule X. [2] (2) Given that his income falls between $164,296 and $209,425, he uses the fifth bracket in Schedule X. [2] (3) His federal income tax will be "$33,602.42 plus 32% of the amount over $164,295." [2]
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