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BusinessAC25 Standard Deduction
By jaeger
Category: Business. Viewed 350 times. Created February 2014.     Disclaimer.   
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Decide what is the standard deduction for an individual.

               
Is the individual claimed as a dependent on someone else's tax return?
YES
Does the dependent have any earned income?
YES
SD = > of a. $1,000 OR b. earned income + $350 BUT b. cannot be > Table 3.1 basic SD Age 65 or older or blind?
YES
Calculate SD as determined in box to the left PLUS Additional SD for age (65 or older) and/or blindness
 

NO


NO


NO




Is TP age 65 or older and/or blind?
SD = $1,000 PLUS additional SD for age (65 and older) and/or blindness (See Table 3.2 on pg. 3-10
SD as calculated above
 
 

NO

YES







SD is determined based on filing status. See Table 3.1 on pg. 3-9
SD is determined based on filing status. See Table 3.1 on pg. 3-9 AND Table 3.2 on pg. 3-10. Add basic SD and additional SD (age and/or blindness) together