Finance
Standard Deduction
A fixed dollar amount that reduces taxable income for taxpayers who do not itemize deductions. For 2025, the standard deduction is $14,600 (single) and $29,200 (married filing jointly).
Most taxpayers take the standard deduction because it exceeds their itemizable expenses and requires no receipts. You choose the larger of the standard deduction or your total itemized deductions — never both — so the standard amount effectively sets a floor on tax-free income.
Key Formula & Relationship
Taxable Income = Adjusted Gross Income − Standard Deduction
Reviewed by the Calculover Editorial Team for mathematical and practical accuracy.
← Back to the glossary