The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the greater of: $1,000, or. The individual's earned income for the year plus $350 (but not more than the regular standard deduction amount, generally $6,200) The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the greater of: $1,000, or. The individual's earned income for the year plus $350 (but not more than the regular standard deduction amount, generally $6,200).
Decedent's final return. The standard deduction for a decedent's final tax return is the same as it would have been had the decedent continued to live. However, if the decedent was not 65 or older at the time of death, the higher standard deduction for age cannot be claimed. If you can be claimed as a dependent by another taxpayer, your standard deduction for 2014 is limited to the greater of: (1) $1,000, or (2) your earned income plus $350 (but the total cannot be more than the basic standard deduction for your filing status). You are allowed an additional deduction for blindness if you are blind on the last day of the tax year. For example, a single taxpayer who is age 65 and blind would be entitled to a basic standard deduction and an additional standard deduction equal to the sum of the additional amounts for both age and blindness. Dependents: Your standard deduction may be reduced if you are claimed as a dependent on another person's tax return. If you were another person's dependent during the tax year, your standard deduction will generally be limited to the greater of $1000 or your earned income plus $350. Federal Standard Tax Deduction for 2014 and Other Tax Years If you choose not to itemize deductions on your federal tax return, you can claim the standard deduction. The federal standard tax deduction amounts for taxpayers who do not itemize deductions are listed below The standard deduction is a dollar amount that reduces the amount of income on which you are taxed. In general, the standard deduction is adjusted each year for inflation and varies according to your filing status, whether you are 65 or older and/or blind, and whether another taxpayer can claim you as a dependent. The standard deduction is not available to certain taxpayers. You are allowed an additional deduction for blindness if you are blind on the last day of the tax year. For example, a single taxpayer who is age 65 and blind would be entitled to a basic standard deduction and an additional standard deduction equal to the sum of the additional amounts for both age and blindness. The standard deduction is a blanket number that applies to everyone in a certain category. If you're someone's dependent, your standard deduction is limited. It's either $950, or your earned income for the year plus $300, whichever amounts to more. But there's a catch. As of the 2011 tax year, the standard deduction for a single filer is $5,800, and your deduction can't exceed this amount. If you earned $5,600 and added $300, you can't deduct $5,900. You're limited to a $5,800 deduction.  If a taxpayer or taxpayer's spouse is claimed as a dependent on someone else's return, the standard deduction on the taxpayer's return is generally reduced and calculated according to the worksheet on page 39 of the instructions for IRS Form 1040 U.S. Individual Income Tax Return.  Standard deduction increased. The standard deduction for some taxpayers who do not itemize their deductions on Schedule A (Form 1040) is higher for 2014 than it was for 2013. The amount depends on your filing status. You can use the 2014 Standard Deduction Tables in this chapter to figure your standard deduction. The standard deduction for a decedent's final tax return is the same as it would have been had the decedent continued to live. However, if the decedent was not 65 or older at the time of death, the higher standard deduction for age cannot be claimed. The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the greater of: $1,000, or. The individual's earned income for the year plus $350 (but not more than the regular standard deduction amount, generally $6,200). The standard deduction for a decedent's final tax return is the same as it would have been had the decedent continued to live. However, if the decedent was not 65 or older at the time of death, the higher standard deduction for age cannot be claimed. Your standard deduction consists of the sum of the basic standard deduction and any additional standard deductions for age and/or blindness. You are allowed an additional deduction if you are age 65 or older at the end of the tax year. You are considered to be 65 on the day before your 65th birthday. You are allowed an additional deduction for blindness if you are blind on the last day of the tax year. For example, a single taxpayer who is age 65 and blind would be entitled to a basic standard deduction and an additional standard deduction equal to the sum of the additional amounts for both age and
https://www.irs.gov/publications/p17/ch20.html https://www.irs.gov/taxtopics/tc551.html http://www.efile.com/tax-deduction/federal-standard-deduction/ https://www.irs.gov/taxtopics/tc551.html http://budgeting.thenest.com/can-deduct-im-dependent-23076.html https://www.taxact.com/support/1381/standard-deduction---taxpayer-claimed-as-dependent-on-another-return/ https://www.irs.gov/publications/p17/ch20.html https://www.irs.gov/publications/p17/ch20.html https://www.irs.gov/taxtopics/tc551.html
what is the standard deduction for a dependent