Question: What is the Standard Deduction for Tax Year 2017?
Answer: The standard deduction for single taxpayers and married couples filing separately is $6,350 in 2017. An increase of $50 from $6,300 in tax year 2016; for married filing jointly (MFJ), the standard deduction is $12,700, up $100 from the prior year; and for heads of households, the standard deduction is $9,350 for 2017, up from $9,300. If you are over 65 years of age or blind/disable, you qualify for an additional standard deduction amount of $1,250. Click here for other Tax Questions for the tax year 2017.
(Visited 28 times, 1 visits today)