Standard Deduction Amounts
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Standard Deductions
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2006
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2007
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Filing Status
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Standard Deduction
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Single
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$5,150
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$5,350
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Married Filing Jointly
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$10,300
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$10,700
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Married Filing Separately
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$5,150
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$5,350
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Head of Household
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$7,550
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$7,850
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Qualifying Widow(er)
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$10,300
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$10,700
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Individuals who are 65 or older increase
the above amounts by $1,250 ($1,000 if married or a
qualifying widow(er)) and by another $1,250 or $1,000 if
they are blind.
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The $1,250 and $1,000 amunts are
increased to $1,300 and $1,050, respectively.
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An individual who is claimed as a
dependent is entitled to a standard deduction of the
larger of (1) earned income + $300, or (2) $850. This
amount may not exceed the amounts shown above for the
dependent's filing status.
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No change for 2007.
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Last Update: Dec. 7, 2006
