2023 Tax Figures

Here are inflation adjustments in some of the most important tax figures for 2023, as announced by the IRS. Other categories of numbers, including tax rate schedules and figures relating to retirement accounts and health savings accounts, are available in our Reference Room.

Standard deduction

Standard deduction, general rule
married filing jointly27,700
head of household20,800
single or separate13,850
Additional amount for aged or blind
married1,500
single1,850
Standard deduction for dependent
minimum1,250
or earned income plus400

Education benefits

Education loan deduction begins to phase out
married filing jointly155,000
others75,000
Lifetime learning credit begins to phase out
married filing jointly160,000
others80,000
Savings bond interest exclusion begins to phase out
married filing jointly137,800
others91,850

Alternative minimum tax (“AMT”)

AMT exemption amount
married filing jointly126,500
single81,300
married filing separately63,250
estates and trusts28,400
AMT exemption amount begins to phase out
married filing jointly1,662,300
unmarried903,350
married filing separately831,150
estates and trusts208,200
AMT 28% rate begins
all except MFS220,700
married filing separately110,350

Estate and gift tax

Gift tax exclusion
individual17,000
non-citizen spouse175,000
Unified credit exclusion amount
individual12,920,000

Standard mileage rates 2023

When not claiming actual expenses (figures not yet available)
business
basis reduction
medical and moving
charitable