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What is the standard deduction for this year? Does it change each year? If so, why?


ANSWER


The BIDaWIZ Team's Answer:

Yes: the standard deduction amounts increase, almost every year,

because of inflation. The 2010 standard deduction amounts are:

$5,700 - single taxpyaers;

$11,400 - married filing jointly; &

$8,400 - head of household. 

The BIDaWIZ Team

 

 

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