Standard Deductions For Taxes
May 27th, 2008
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Question: Federal taxes, filing HOH – Standard deduction and exemptions?
If filing head of household with two children, I know they both plus myself count as an “exemption”. I also know standard deduction is higher than itemized for me. Does this mean I get to substract the standard HOH deduction *PLUS* the amount of exemption for the three of us? Thanks for any help!
Answer: Yes, the standard deduction for HOH is $7,550. The Personal Exemption is $3,300 per person ($9,900) in your case. These would be the deductions that you would take on your 1040.
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Tax Forms & Deductions : Federal Income Tax Standard Deductions
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