Standard Deductions for 2011

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by on January 29, 2012 at 3:09 pm

If you do not qualify for itemize deductions then you will need to take the standard deduction.

Standard deduction amounts -Your standard deduction is based on your filing status and is subject to inflation adjustments each year.

For 2011, the amounts are:
Single     $5,800
Married Filing Jointly   $11,600
Head of Household   $8,500
Married Filing Separately  $5,800
Qualifying Widow(er)  $11,600

 

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