Standard deduction 2023: What it is and how it works | Fidelity
https://www.fidelity.com/learning-center/smart-money/standard-deduction
WebNov 1, 2023 · Key takeaways. The standard deduction is a flat amount that reduces your taxable income and potentially your tax bill. The amount, set by the IRS, could vary by tax year and filing status—generally, single, married filing jointly, married filing separately, or head of household.
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