Standard Deduction Amounts for 2019 and 2020Income Taxes
Money Done Right does not accept sponsorships to promote particular products or services. However, we may receive a commission if you purchase or sign up through links on this page. Here's more information about how we make money.
When it comes to deductions on your individual tax return, you have two options:
- Take the standard deduction
- Itemize your deductions
The vast majority of taxpayers take the standard deduction since it’s available to all taxpayers and most taxpayers don’t have enough itemized deductions to exceed their standard deduction.
Standard Deduction Amounts
|Married Filing Jointly or Qualifying Widow(er)||$24,400||$24,800|
|Married Filing Separately||$12,200||$12,400|
|Head of Household||$18,350||$18,650|
How I Make $1,410 Every Month Because I Have Good Credit
It only takes me 20 minutes per month.
Logan is a practicing CPA, Certified Student Loan Professional, and founder of Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.