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2. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).

3. Taxes 2023: What's the standard deduction for people over 65?

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   The IRS considers an individual to be 65 on the day before their 65th birthday. The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for ...

4. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...

5. Tax breaks after 50 you might not know about - AOL

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   This is nothing new, but the Secure Act 2.0 of 2022 has shifted how catch-up contributions will work for the next few years. For the 2024 tax year, if you’re 50 or older, you can contribute an ...

6. Why More People Are Opting for the Standard Deduction in 2023

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   The number of filers who itemized dropped from 46.5 million in 2017 to 18 million in 2018 as 90% of taxpayers opted for the newer, bigger, better standard deduction. The Standard Deduction Doesn ...

7. Should you itemize or take a standard deduction on your tax ...

   www.aol.com/news/itemize-standard-deduction-tax...

   According to tax pros, itemizing generally only makes sense if your itemized deductions, taken together, add up to more than the current standard deduction of $13,850 for a single filer and ...