Bankrate's 2009 Tax Guide
Forms & chartsA chart showing increases with yellow and green, and a cartoon man holding a large dollar bill at the top and a blue background
taxes
2008 deduction amounts

Standard deduction amounts

The amount you can claim depends upon your filing status and age.
Watch "Fixing a mistake on your return"

For taxpayers younger than 65, the amounts are:

Standard deductions
Single$5,450
Head of household$8,000
Married filing jointly$10,900
Qualifying widow or widower$10,900
Married filing separately$5,450
 

Standard deductions for older, visually impaired taxpayers

Taxpayers age 65 or older, as well as visually impaired/blind filers, are allowed larger standard deduction amounts. To determine which amount you can claim, you must check the appropriate boxes on your Form 1040 or Form 1040A (Form 1040EZ is not available to filers age 65 or older). On line 39A of Form 1040 (line 23A of Form 1040A) the boxes you can check are as follows:
  • You were born before Jan. 2, 1944.*
  • Your spouse was born before Jan. 2, 1944.*
  • You are blind.**
  • Your spouse is blind.**

Based on the number of boxes checked, your standard deduction will be:

Standard deductions: 65+ or visually impaired
Filing statusNumber of boxes checkedStandard deduction amount
Single1
2
$6,800
$8,150
Married filing jointly1
2
3
4
$11,950
$13,000
$14,050
$15,100
Married filing separately1
2
3
4
$6,800
$8,150
$9,500
$10,850
Head of Household1
2
$9,360
$10,700

 

advertisement

* If your 65th birthday is Jan. 1, the IRS considers you age 65 for the previous tax year and you may claim the larger standard deduction.
** You may qualify for the larger deduction even if you are partially blind by attaching a letter from your physician attesting to your limited vision.

Standard deduction option for property taxes

New in 2008, taxpayers who do not itemize can add an additional amount to their standard deduction in connection with real estate taxes paid. The maximum added standard deduction amount is up to $500 for single, married filing separately or head of household filers, up to $1,000 for married couples who file joint returns. This additional standard deduction amount also is available for the 2009 tax year.

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 4.00%  0.09 4.09%
15 year fixed refi 3.08%  0.12 3.20%
10 year fixed refi 3.13%  0.11 3.24%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.32%  0.02 4.30%
50K FICO-based HELOC 3.98%  0.02 3.96%
100K FICO-based HELOC 3.83%  0.02 3.81%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.75% --0.00 2.75%
48 month used car loan 2.99% --0.00 2.99%
60 month new car loan 3.19%  0.01 3.20%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99% --0.01 0.98%
2 Year CD 1.22%  0.01 1.21%
5 Year CD 1.87% --0.00 1.87%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.76% --0.00 15.76%
Cash Back Cards 16.44% --0.00 16.44%
Low Interest Cards 11.04% --0.00 11.04%
 
Next
advertisement
WEEKLY TAX TIP NEWSLETTER

Our tax expert Kay Bell provides resourceful tips and advice to help you stay prepared for filing.

advertisement

Connect with us