How to Find My IRS Standard Deduction

Finding your standard deduction is an easier element in tax preparation.

The Internal Revenue Service, IRS, bases the standard deduction each year on inflation. If your itemized deductions are less than your IRS standard deduction, you are better off using the standard deduction to file your federal income tax. To find your IRS standard deduction, following a few simple steps are necessary.

Instructions

1. Go to IRS.gov. In the top right corner of the IRS website, there is a search box. Type "standard deduction" in the box and click "Search." From the results list, find "Six Facts about Choosing the Standard or Itemized Deductions." As of 2011, it was the third item in the search results. Click the link and the information for standard deductions will appear.

2. Check your marital status. The 2010 standard deduction was $5,700 for a single person, according to the IRS. If you are married filling jointly, the IRS standard tax deduction for both spouses together was $11,400. If you were filing as head of household, the standard deduction was $8,400. If you are married but file separately, the standard deduction was $5,700 for each spouse. For IRS income tax liability purposes, the standard deduction is subtracted from your total gross annual income; thus, the IRS does not tax you on the standard deduction amount.

3. Check for age-related standard deduction increases. Your standard deduction may increase if you are over age 65. It may also increase if you are blind. If you are claimed on another person's tax return, your standard deduction may decrease. You will also receive additional deductions for dependent children. People filing married and separately must both either itemize or use IRS standard deductions.

4. Check your adjusted gross income, the amount of your earnings less your standard deduction, to see if you qualify for free filing. You may be eligible to file your federal income tax free, if after deducting your standard deduction from your gross wages, your adjusted gross income is $58,000 or less as of 2010.

Tips & Warnings

• Most people who own a home and make house payments are better off filing the long form instead of taking the standard deduction.

• Don't forget that any interest you paid toward student loans is tax deductible.

• Check the IRS website each year for standard deductions because the IRS may change them each year.

References

• IRS: Publication 501