standard deduction
Updated June 20, 2020

Standard Deduction Amounts for 2019 and 2020

Income Taxes

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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

2019-2020 Standard Deduction Amounts
Filing Status20192020
Single$12,200$12,400
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
 
Logan Allec, CPA

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.

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