It's worth noting that to qualify for the age requirement above, you need only be 65 or older by the end of the tax year. To meet the blindness requirement, you must be totally blind or have a note from an eye doctor confirming that your vision is worse than 20/200 or that your field of vision is 20 degrees or less. You can also qualify if you have contact lenses to correct one of the issues above but are unable to wear them due to pain, infection, or ulcers.
Standard deduction for dependents
Dependents aren't always able to claim the full standard deduction for their tax filing status. In 2023, they're limited to $1,250 or whatever their earned income for the year was, plus $400. If you opt for the latter, your total deduction cannot exceed the standard deduction for your tax filing status.
The rules are mostly the same for the 2024 tax year, except dependents can now claim a deduction of $1,300 or their income plus $450.
Who can't claim the standard deduction?
The IRS prohibits the following taxpayers from claiming the standard deduction on their tax return:
- Those who are married, filing separately if their spouse decides to itemize
- Nonresident aliens or dual status aliens, with certain exceptions.
- Those who file a return for a period of less than 12 months due to a change in their annual accounting period.
- Those filing as an estate or trust, common trust fund, or partnership.
If the above rules don't apply to you, you have the option to either claim the standard deduction or itemize deductions.
When should you claim the standard deduction?
Claiming the standard deduction makes sense for many taxpayers because it's simpler and often saves them money compared to itemizing deductions. But those who qualify for a large number of deductions may be better off itemizing.
The list of itemized deductions is too long to record in its entirety, but some common examples include:
- Medical expenses that exceed 7.5% of your AGI
- Mortgage points
- Mortgage interest
- Property taxes
- Charitable donations
- Business-related expenses for the self-employed
- Home office expenses
If you believe your total itemized deductions would exceed the standard deduction you qualify for, it makes sense to itemize. But you don't have to figure this out on your own.
Most tax-filing software will ask you questions about the tax deductions you qualify for and will automatically calculate how much they're worth. Then, it'll decide whether itemizing deductions or claiming the standard deduction makes more sense for you. If you employ a tax professional, they should also go through this process to help you save the most money possible. But it still pays to understand the standard deduction yourself, so you know why your tax bill ended up where it did.
Fact Checked
Ashley Maready