Standard Deduction 2026 Single. One other popular item that may be changing back to 2017 levels is the standard deduction which was increased across the board. When calculating taxable income, taxpayers may deduct the standard deduction from adjusted gross income (agi) or elect to itemize.
The standard deduction for taxpayers younger than age 65, currently $14,600 (single) and $29,200 (married filing jointly), is expected to decline to $8,300 and $16,600, respectively, according to. The standard deduction would shrink, and be valued at $8,350 for single filers, $16,700 for joint filers, and $12,250 for head of household filers, compared to $15,450, $30,850, and $23,150, respectively, if the tcja instead.
Standard Deduction 2026 Single Images References :