When you’re over 65, the standard deduction increases. The specific amount depends on your filing status and changes each year. For the 2019 tax year, seniors over 65 may increase their standard deduction by $1,300. If both you and your spouse are over 65 and file jointly, you can increase the amount by $2,600.

What is the standard deduction and personal exemption for 2020?

For 2020, the standard deduction is $12,400 for single filers and $24,800 for married couples filing jointly. It was nearly doubled by Congress in 2017. The personal exemption is the subtraction from income for each person included on a tax return—typically the members of a family. It was repealed in 2017.

What is Arizona personal exemption?

2020 Arizona Standard Deduction Amounts Adjusted $12,400 for a single taxpayer or a married taxpayerfiling a separate return; $24,800 for a married couple filing a joint return; and. $18,650 for individuals filing a head of householdreturn.

What is the standard deduction for over 65 in 2021?

$1,350
Taxpayers who are at least 65 years old or blind can claim an additional 2021 standard deduction of $1,350 ($1,700 if using the single or head of household filing status). For anyone who is both 65 and blind, the additional deduction amount is doubled.

What pensions are not taxable in Arizona?

Arizona is moderately tax-friendly for retirees. Like most U.S. states, it does not tax Social Security retirement benefits.

What was the personal exemption amount for 2015?

Keep in mind that the floor for medical expenses remains 10% of adjusted gross income (AGI) for most taxpayers. Taxpayers over the age of 65 may still use the 7.5% through 2016. The personal exemption amount for 2015 is $4,000, up from $3,950 in 2014. Phaseouts apply as follows:

What was the standard deduction for 2017 in Arizona?

2017 Arizona Standard Deduction Amount Adjusted for Inflation. For 2017, the Arizona standard deduction amounts were adjusted for inflation. $5,183 for a single taxpayer or a married taxpayer filing a separate return. $10,336 for a head of household or a married couple filing a joint return.

What are the exemptions and deductions in Arizona?

1 The parent or ancestor of a parent lived in a principal residence for the entire taxable year. 2 The taxpayer paid more than one-half of the support and maintenance costs of the parent or ancestor of a parent during the taxable year. 3 The parent or ancestor of a parent was 65 years or older during the taxable year.

Are there any tax exemptions for blind people in Arizona?

Arizona also allows exemptions for the following: 1 The taxpayer or their spouse is blind. 2 The taxpayer or their spouse is 65 years old or older 3 Each person age 65 or older (related or not), who is not otherwise claimed for a dependent credit (or a dependent… More …