What is the standard deduction?

You can take either the standard deduction or you can itemize your tax-deductible expenses.

The standard deduction for 2023 depends on your marital status, as follows:

Additional standard deduction

You are also allowed an additional standard deduction amount if you and/or your spouse is 65 or older or blind. Contact our Customer Service Representative to discuss your individual situation to determine your exact amount of additional standard deduction.