What is the Standard Deduction for Income Taxes?

The standard deduction is the amount that taxpayers can subtract from their adjusted gross income if they choose not to itemize deductions. The amount of the standard deduction is indexed annually for inflation. In 2017, the standard deduction is $6,350 for single tax filers and $12,700 for married couples filing jointly.

We would like your feedback on this Personal Finance Frequently Asked Question.