What is the standard deduction for marry filing joint for tax year 2017?

$12700

Explanation:

Standard deduction refers to the portion of income that's not being subjected to tax which can be used in the reduction of the tax bill. It should be noted that the amount of one's standard deduction will be based on the age, filing status, age, as well as some other criteria.

For taxpayers who don’t itemize, it should be noted that the 2017 standard deduction depends on the filing status and this include:

Single = $6,350

Married Filing Jointly = $12,700

Married Filing Separately = $6,350

Head of Household = $9,350

Qualifying Widow(er) = $12,700

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