standard deduction for dependent
The standard deduction for an individual who can be claimed as a dependent on another person's tax return is generally limited to the greater of: $950, or. The individual's earned income for the year plus $300 (but not more than the regular standard deduction amount, generally $5,950).ichael is single. His parents can claim an exemption for him on their 2012 tax return. He has interest income of $780 and wages of $150. He has no itemized deductions. Michael uses Table 8 to find his standard deduction.