The standard deduction is a fixed amount that reduces your taxable income, helping lower the amount of tax you owe. This deduction is available to most taxpayers and varies based on filing status, age, and certain other factors. Each year, the amount is adjusted for inflation.
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Most taxpayers qualify for the standard deduction, which consists of a base amount plus any additional amounts for those who are 65 or older or blind. However, you cannot take the standard deduction if you choose to itemize your deductions instead.
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If you are 65 or older or legally blind, you may qualify for an additional standard deduction. For 2024, the additional deduction is $1,550. If you are unmarried and not a surviving spouse, this amount increases to $1,950. To claim this, you must check the appropriate boxes on your tax return.
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If someone else claims you as a dependent, your standard deduction is limited. For 2024, the deduction is the greater of $1,300 or your earned income plus $450. However, it cannot exceed the basic standard deduction for your filing status.

Certain taxpayers are not eligible for the standard deduction, including:

Nonresident aliens generally cannot claim the standard deduction unless they meet specific criteria, such as being married to a U.S. citizen and making a joint election to be treated as a resident for tax purposes. Some students and business apprentices from India may also qualify under a special tax treaty.
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You can claim the standard deduction when filing your tax return by selecting it on Form 1040 or Form 1040-SR. If you qualify for additional deductions due to age or blindness, ensure you check the appropriate boxes.
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Understanding the standard deduction can help you determine the best way to file your taxes and maximize your deductions.