What is the standard deduction for taxes?

Answer When you file your annual federal tax return you have the choice of claiming the standard deduction or itemizing deductions. The amount of the standard deduction varies according to your filing sta... Read More »

Top Q&A For: What is the standard deduction for taxes

What is the standard deduction for taxes in 2007?

Standard deductions change each year. The standard deduction in 2007 for single or married filing separately was $5,350. The 2007 standard deduction for married or qualified widower was $10,700. T... Read More »

What is the standard deduction on federal income taxes?

Standard deductions on federal income taxes are based upon an individual's filing status--single, widower with dependent child, married filing jointly, married filing separately or head of househol... Read More »

What was the standard deduction in 2008?

The standard deduction for 2008 depended on your filing status. For singles and those who were married but filed separately, the deduction was $5,450. For heads of household, the deduction was $8,0... Read More »

What is the Standard Deduction for 2007?

In 2007, the standard deduction for single taxpayers or for married taxpayers filing separately was $5,350. For married individuals filing jointly, the standard deduction was $10,700 and for head o... Read More »