Intuit Academy Tax Practice Exam 2025 – All-in-One Guide for Exam Mastery!

Question: 1 / 400

What is the standard deduction for a single filer in 2023?

$12,500

$13,850

The standard deduction for a single filer in 2023 is $13,850. This amount represents a key benefit within the tax code designed to reduce the taxable income of individuals, allowing for a more favorable tax situation. The standard deduction is adjusted annually for inflation and other factors, which is why it is important for taxpayers to stay updated with the current figures.

In this case, the figure of $13,850 reflects the most current guidelines from the IRS, making it the correct amount for single filers in 2023. Understanding the standard deduction is crucial for effective personal financial planning and tax preparation, as it impacts how much taxable income an individual reports, ultimately influencing the total tax owed.

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$15,000

$10,200

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