Taxpayers who do not itemize their deductions are entitled to a standard deduction. The amount of the standard deduction varies according to the taxpayer's filing status. Related Forms
Blind or over 65 and single/head of household – add:
$1,350
Individuals are entitled to a personal exemption amount.
2008 Exemption Amount
2008 Exemption Amount
$3,500
Personal Exemption Phaseout
Married, Filing Jointly
$239,950
Single
$159,950
Married, Filing Separately
$119,975
Head of Household
$199,950
Information provided in the 2008 Tax Information Guide is general in nature and is not meant to offer tax advice. You should consult your own tax
advisor for more complete information.
