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What is the Standard Deduction?


The Standard deduction for 2020 is $12,400 if you are Single or MFS. If you are MFJ or a Qualifying widow it is $24,800. HOH, it is $18,650. The chart below list the filing requirements based gross income.

Table 1. 2020 Filing Requirements Chart for Most Taxpayers

IF your filing status is...

AND at the end of 2020 you were...*

THEN file a return if your gross income was at least...**

​single

under 65

$12,400

single

​65 or older

​$14,050

head of household

​under 65

$18,650

head of household

​65 or older

$20,300

married, filing jointly***

under 65 (both spouses)

$24,800

married, filing jointly***

​65 or older (one spouse)

$26,100

married, filing jointly***

​65 or older (both spouses)

​$27,400

married, filing separately

​any age

$5

qualifying widow(er)

under 65

$24,800

qualifying widow(er)

65 or older

$26,100

* If you were born before January 2, 1956, you're considered to be 65 or older at the end of 2020. (If your spouse died in 2020, see Death of spouse, later. If you're preparing a return for someone who died in 2020, see Death of taxpayer, later.** Gross income means all income you receive in the form of money, goods, property, and services that isn't exempt from tax, including any income from sources outside the United States or from the sale of your main home (even if you can exclude part or all of it). Don't include any social security benefits unless (a) you're married filing a separate return and you lived with your spouse at any time during 2020, or (b) one-half of your social security benefits plus your other gross income and any tax-exempt interest is more than $25,000 ($32,000 if married filing jointly). If (a) or (b) applies, see the Form 1040 and 1040-SR instructions to figure the taxable part of social security benefits you must include in gross income. Gross income includes gains, but not losses, reported on Form 8949 or Schedule D. Gross income from a business means, for example, the amount on Schedule C, line 7; or Schedule F, line 9. But in figuring gross income, don't reduce your income by any losses, including any loss on Schedule C, line 7; or Schedule F, line 9.*** If you didn't live with your spouse at the end of 2020 (or on the date your spouse died) and your gross income was at least $5, you must file a return regardless of your age.

resource: https://www.irs.gov/publications/p501#en_US_2020_publink1000289299

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