How Much Is The Standard Deduction For 2023. If you’re filing as single or married filing separately, you can deduct $13,850 for tax year 2023 (and $14,600 for tax year. The standard deduction will increase by $900 for single filers and by $1,800 for joint filers (table 2).

The standard deduction will increase by $900 for single filers and by $1,800 for joint filers (table 2). The standard deduction is a flat amount that reduces your taxable income and potentially your tax bill.