Can you tell me who qualifies for standard deductions on taxes?
Sure! Standard deductions are available to most taxpayers, but the amount varies based on filing status.
What are the different filing statuses that affect the standard deduction?
The main filing statuses are Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Widow(er).
How much is the standard deduction for each filing status?
For 2023, the standard deduction is $13,850 for Single, $27,700 for Married Filing Jointly, and $20,800 for Head of Household.
Are there any exceptions or special cases for the standard deduction?
Yes, certain taxpayers, like those who are blind or over 65, may qualify for an additional deduction.
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