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