|
2006 Standard Deductions |
|
|
Single |
$4,750 |
|
|
|
|
Married filling joint
returns |
$9,500 |
|
|
|
|
Head of Household |
$7,000 |
|
|
|
|
Married, filing separate
returns |
$4,750 |
|
|
|
|
Dependent standard deduction
minimum |
$750 or sum of $250 plus
earned income |
The standard deduction, exemption amount, and
individual tax rate brackets are adjusted annually for cost-of-living
increases. The adjustments are based on the average Consumer Price Index (CPI)
for the 12-month period ending the previous August 31.