We may receive a commission if you sign up or purchase through links on this page. Here's more information.
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
| Filing Status | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|
| Single | $13,850 | $12,950 | $12,550 | $12,400 |
| Married Filing Jointly or Qualifying Widow(er) | $27,700 | $25,900 | $25,100 | $24,800 |
| Married Filing Separately | $13,850 | $12,950 | $12,550 | $12,400 |
| Head of Household | $20,800 | $19,400 | $18,800 | $18,650 |
Author:
Logan Allec, CPA
Logan is a practicing CPA and founder of Choice Tax Relief and Money Done Right. 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.
