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Tax & paperwork

Standard Deduction

Also called: std deduction

A flat dollar amount you subtract from your gross income before computing federal income tax — taken by ~88% of filers in lieu of itemizing.

The standard deduction is a fixed amount the IRS lets you subtract from your gross income, reducing the income that gets taxed. You take it instead of itemizing deductions, and for most taxpayers it produces a lower tax bill with less paperwork.

2026 amounts:

  • Single / Married filing separately: $15,750
  • Married filing jointly / Qualifying surviving spouse: $31,500
  • Head of household: $23,625

Additional standard deduction (added to the above) if you're 65+ or blind: $2,000 per condition for single/HoH, $1,600 per condition for MFJ.

The standard deduction applies to W-2 wages, reported tips, and net Schedule C income alike — but it does NOT reduce self-employment tax. SE tax is calculated on net SE income before the standard deduction. The standard deduction only affects your federal income tax.