IRS 2008 Standard deductions

The amount of Standard deduction changes every year due to adjustments for inflation. The amount for 2008 according to IRS website are:

IRS 2008 Standard deduction for Single Taxpayer: $5,450
IRS 2008 Standard deduction for Married filing jointly: $10,900
IRS 2008 Standard deduction for Head of Household: $8,000
IRS 2008 Standard deduction for Married filing separately: $5,450

The precise amount of standard deduction you can claim also depends on a variety of other factors. If any of the following apply to you, please use the Standard Deduction Worksheet in the Form 1040EZ, 1040A or 1040 instructions.

  1. You are over 65 years of age.
  2. You are blind.
  3. You plan to claim additional standard deduction for state and local taxes.
  4. A tax exemption can be claimed for you by another taxpayer.
  5. You have a net disaster loss from a federally declared disaster.
Some additional points to be kept in mind.
  1. If you are married but filing separately and your spouse itemizes deductions, you cannot claim a standard deduction. You have to itemize deductions too.
  2. Non-resident Aliens, dual-status aliens and individuals who file returns for periods of less than 12 months are not eligible for standard deductions.

Mar 15, 2009


Anonymous April 21, 2009 at 2:00 AM  

i received a $500 deduction for real estate taxes..why is this tax amount (couples received $1000) cut in half when the taxes are based on assessed values and I pay the same as a couple would in the same valued property. Now I get one $250 stimulus check when a couple (eligible ) EACH receive a check (I'm OK with this) but feel Washington knows they "cheated" single individuals owning a home.

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