Publication 554 - Older Americans' Tax Guide - 2004 Page 19
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
312004 Standard Deduction Tables
If you are married filling a separate return and
!
your spouse itemizes deductions, or if you are a
Table 4-1. Standard Deduction Chart for
dual-status alien, you cannot take the standard
CAUTION
People Under Age 65*
deduction even if you were 65 or older or blind.
Your Standard
Table 4-3. Standard Deduction Worksheet
If Your Filing Status is:
Deduction is:
for Dependents*
Single or Married filing separately
$4,850
If you were 65 or older or blind, check the correct number of
Married filing jointly or Qualifying
boxes below. Then go to the worksheet.
widow(er) with dependent child
9,700
You
65 or older
Blind
Head of household
7,150
Your spouse, if claiming
65 or older
Blind
*Do not use this chart if you were 65 or older or blind, or if someone else can
spouse’s exemption
claim an exemption for you (or your spouse if married filing
jointly). Use Table 4-2 or 4-3 instead.
Total number of boxes you checked
1.
Enter your earned income (defined
1.
below). If none, enter -0-.
2.
Additional amount.
2.
$250
3.
Add lines 1 and 2.
3.
4.
Minimum standard deduction.
4.
$800
Table 4-2. Standard Deduction Chart for
5.
Enter the larger of line 3 or line 4.
5.
People Age 65 or Older or Blind*
6.
Enter the amount shown below for
Check the correct number of boxes below. Then go to the
your filing status.
chart.
•
Single or Married filing separately —
You
65 or older
Blind
$4,850
6.
Your spouse, if claiming
65 or older
Blind
•
spouse’s exemption
Married filing jointly or Qualifying
widow(er) with dependent child —
Total number of boxes you checked
$9,700
And the Number Your
•
Head of household — $7,150
in the Box
Standard
If Your
Above is:
Deduction
7. Standard deduction.
Filing Status is:
is:
a. Enter the smaller of line 5 or line 6. If
Single
1
$6,050
under 65 and not blind, stop here.
2
7,250
This is your standard deduction.
Married filing jointly
1
10,650
Otherwise, go on to line 7b.
7a.
or Qualifying
2
11,600
b. If 65 or older or blind, multiply $1,200
widow(er) with
3
12,550
($950 if married or qualifying
dependent child
4
13,500
widow(er) with dependent child) by
the number in the box above.
7b.
Married filing
1
5,800
separately
2
6,750
c. Add lines 7a and 7b. This is your
3
7,700
standard deduction for 2004.
7c.
4
8,650
Earned income includes wages, salaries, tips,
Head of household
1
8,350
professional fees, and other compensation received for
2
9,550
personal services you performed. It also includes any
*If someone can claim an exemption for you (or your spouse if married filing
amount received as a scholarship that you must
jointly), use Table 4-3, instead.
include in your income.
*Use this worksheet only if someone else can claim an exemption for
you (or your spouse if married filing jointly).
Chapter 4 Deductions
Page 19
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial