2012 Tax Year Standard Deduction and Exemptions amount

Standard Deductions for 2012 tax year

 Single: $5,950-an increase from $5,800
Married Filing Separately: $5,950, an increase of $5,800
Head of Household: $8,700, an increase from $8500
Married Taxpayers Filing Jointly and Qualifying Widow(er)s: $11,900, an increase from $11,600

Exemptions

This tax year, you can claim $3,800, up from last year's $3700

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