Glossary
Standard deduction
Definition
The standard deduction is a fixed amount, set by filing status and indexed annually, that taxpayers may subtract from AGI instead of itemizing. Most households take it; itemizing only helps when itemized deductions exceed it.
How standard deduction works
For 2026, standard deduction amounts follow IRS Rev. Proc. 2025-32 as amended by the 2025 tax law. Additional amounts apply for taxpayers 65 or older or blind.
From 2026, non-itemizers can also deduct some cash charitable gifts: $1,000 ($2,000 married filing jointly)2026 · IRS.
Why it matters to a firm
Deciding whether to itemize, or bunch deductions into alternate years, is a recurring planning service.
| 2026 figure | Source |
|---|---|
| Federal income tax brackets and standard deduction: 2026 brackets and standard deductions (Rev. Proc. 2025-32) | IRS Rev. Proc. 2025-32, as amended by the 2025 tax law |
| Cash charitable deduction for non-itemizers: $1,000 ($2,000 married filing jointly) | IRS, effective 2026 |
Calculators that use standard deduction
Questions about standard deduction
Should I itemize?
Only if itemized deductions exceed the standard deduction.
What is bunching?
Concentrating deductions in one year to itemize, then taking the standard deduction the next.
Is it the same for everyone?
It varies by filing status, age and blindness.
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Related terms: Itemized deductions · Taxable income
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