Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2023 Form 1040.
2023 STANDARD DEDUCTION AMOUNTS
SINGLE $13,850(65 or older/legally blind + $1850)
MARRIED FILING SEPARATELY $13,850(65 or older/legally blind + $1500)
MARRIED FILING JOINTLY $27,700(65+/legally blind) )+ $1500 per spouse
HEAD OF HOUSEHOLD$20,800 (65 or older/blind)+ $1850)
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Single - $14,600 add $1,950 if age 65 or older Married Filing Separately - $14,600 add $1,550 if age 65 or older Married Filing Jointly - $29,200 add $1,550 for each spouse age 65 or older Head of Household - $21,900 add $1,950 if age 65 or older
Single - $13,850 add $1,850 if age 65 or older Married Filing Separately - $13,850 add $1,500 if age 65 or older Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older Head of Household - $20,800 add $1,850 if age 65 or older