GLOSSARY · TAX & ESTATE

Standard deduction

A flat amount, set by filing status and adjusted for inflation each year, that you subtract from income without receipts. You take it or the total of your itemized deductions (state and local taxes up to a cap, mortgage interest, charitable gifts and medical costs above a floor), whichever is larger. Taxpayers who are 65 or older or blind get an extra amount.

Also called: itemized deductions, standard vs itemized, itemize or standard, schedule a

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Standard vs itemized →Should I itemize or take the standard deduction?Tax bracket calculator →What federal tax do I owe and what are my marginal/effective rates?New 2026 tax deductions calculator →What do the new tips, overtime, senior and car-loan-interest deductions save me?

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CHAPTER · ARRIVING AND WORKING ON A VISA · FOUNDATIONSYour First Year: Dual Status and the First-Year Choice CHAPTER · ARRIVING AND WORKING ON A VISA · FOUNDATIONSYour Paycheck: Withholding and the W-4 for Nonresidents

SOURCES

Rev. Proc. 2025-32, 2026 inflation-adjusted tax items. Internal Revenue Service.
Publication 501, Dependents, Standard Deduction, and Filing Information. Internal Revenue Service.
Topic No. 551, Standard deduction. Internal Revenue Service.

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