Standard Deduction Amounts
Standard Deductions |
||
2007 |
2008 |
|
Filing Status |
Standard Deduction |
|
Single |
$5,350 |
$5,450 |
Married Filing Jointly |
$10,700 |
$10,900 |
Married Filing Separately |
$5,350 |
$5,450 |
Head of Household |
$7,850 |
$8,000 |
Qualifying Widow(er) |
$10,700 |
$10,900 |
Individuals who are 65
or older increase the above amounts by $1,300 ($1,050
if married or a qualifying widow(er)) and by another
$1,300 or $1,050 if they are blind. |
The $1,250 amount is increased to $1,350. The $1,050 amount is unchanged. |
|
An individual who is claimed
as a dependent is entitled to a standard deduction of
the larger of (1) earned income + $300, or (2) $850.
This amount may not exceed the amounts shown above for
the dependent's filing status. |
The $850 amount is increased to $900. There are no other changes. |
|