These resources are brought to you by the Cooperative Extension System and your Local Institution
eXtension is an interactive learning environment delivering the best, most researched knowledge from the smartest land-grant university minds across America.
eXtension: more mind reachHave a question? Try asking one of our Experts
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 2012, the standard deduction is $5,950 for single tax filers and $11,900 for married couples filing jointly.
We would like your feedback on this Personal Finance Frequently Asked Question.
Unlike most other resources on the web, we have experts from Universities around the country ready to answer your questions.
This resource area was created by the: Personal Finance community
Interactive Tools and Resources:
Click Here to Follow Us On Twitter
