Standard Deduction

The standard deduction for taxpayers who do not itemize deductions on Form 1040, Schedule A, has increased. The standard deduction amounts for 2011 are:

• Married Filing Jointly or Qualifying Widow(er) - $11,600
• Head of Household - $8,500
• Single or Married Filing Separately - $5,800

Taxpayers who are 65 and Older or are Blind

For 2011, the standard deduction for these taxpayers has increased:

• $1,150 - Married Filing Jointly, Married Filing Separately, or Qualifying Widow(er)
• $1,450 - Single or Head of Household