Standard Deduction
A fixed dollar amount that reduces taxable income, available to taxpayers who do not itemize deductions on Schedule A.
Detailed Explanation
For 2026, the standard deduction is $16,100 for single filers, $32,200 for married filing jointly, and $24,150 for head of household, with additional amounts for taxpayers 65 or older and blind. Most taxpayers take the standard deduction since the Tax Cuts and Jobs Act significantly increased it. Itemizing on Schedule A may be beneficial when total qualifying itemized deductions (state and local tax up to the SALT cap, mortgage interest, charitable contributions, medical expenses above 7.5% of AGI) exceed the standard amount.
Key Points
- 2026 amounts: $16,100 single, $32,200 married filing jointly, $24,150 head of household.
- Additional amounts apply for taxpayers age 65 or older and those who are blind ($1,650 each if married, $2,050 each if unmarried, for 2026).
- You take the larger of the standard deduction or total itemized deductions on Schedule A.
- The TCJA roughly doubled the standard deduction, so most taxpayers no longer itemize.
- Indexed for inflation annually.
Practical Example
A married couple has $9,000 of mortgage interest, $10,000 of state and local tax, and $4,000 of charitable gifts, totaling $23,000 of itemized deductions. Since that is below the $32,200 standard deduction for 2026, they take the standard deduction. Bunching several years of charitable gifts into one year could push them over $32,200 and make itemizing worthwhile in that year.
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Learn about Individual Tax PreparationRelated Terms
Adjusted Gross Income (AGI)
Adjusted Gross Income is your total gross income reduced by specific above-the-line deductions, used as the starting point for calculating your federal taxable income.
Form 1040 (US Individual Income Tax Return)
The individual income tax return that reconciles a year of income, deductions, and credits against tax already paid, producing a refund or balance due.
Tax Deduction
An amount subtracted from gross income to reduce taxable income, lowering tax liability by the deduction amount multiplied by the marginal tax rate.
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