The 2026 standard deduction for dependents is limited to either $1,350 or the sum of $450 and the dependent’s earned income, whichever is greater. Note: The standard deduction for dependents cannot exceed the regular standard deduction for your filing status, even if your earned income is higher than the basic standard deduction amount.

President Donald Trump's One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 from the previous $10,000, as previously reported by GOBankingRates.

This story incorrectly described federal tax rules concerning married couples filing separately and itemizing deductions. When a married couple files separate returns and one spouse itemizes deductions, the other spouse must also itemize deductions and ...

The most significant tax overhaul since 2017 creates unprecedented opportunities—but only for those who act before December 31, 2025.

Taxpayers age 65 and older might be able to benefit from a $6,000 'senior bonus' deduction in the next four tax years. Here are five ways to make it pay.