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2010 tax deduction

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mismas
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« on: February 03, 2010, 06:46:47 pm »

Anyone knows how much is the 2010 federal tax deduction? I mean the standard tax deduction.
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« on: February 03, 2010, 06:46:47 pm »

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danisara
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« Reply #1 on: February 03, 2010, 06:56:55 pm »

I think you mean the 2009 standard tax deduction instead of the 2010 tax deduction, right? (You will need the 2010 tax deduction next year in 2011 when you file your tax return for tax year 2010.)

Standard deduction for federal taxes for tax year 2009 (return filed in 2010):

Single or Married filing separately $5,700
Married filing jointly or Qualifying widow(er) $11,400
Head of household $8,350
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mismas
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« Reply #2 on: February 04, 2010, 08:44:39 am »

Great, thanks much. By any chance, would you know how much it is for Wisconsin?
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danisara
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« Reply #3 on: February 04, 2010, 11:21:04 am »

There is no single standard deduction that would be applicable to everyone. The deduction is sized based on your income from line 14 of WI form 1. For example if your income is between $39,000 and $39,500 and you are single, the deduction is $6,363. If your income is between $54,000 and $54,500 and you are single, your deduction would be $4,563.

2009 Standard Deduction Table
Wisconsin income tax Form 1 instructions
page 45
http://www.revenue.wi.gov/forms/2009/09i-111.pdf
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