Generally, the standard deduction amounts are adjusted each year for inflation.

Enter the amount from Schedule A, line 28, on Form 1040, line 40. You benefit from the standard deduction if your standard deduction is more than the total of your allowable itemized deductions. However, if the individual is 65 or older or blind, the standard deduction may be higher. If born after January 1, 1941, and not blind, stop here. If you decide to itemize your deductions, complete Schedule A and attach it to your Form 1040. You qualify for this benefit if you are totally or partly blind. Money borrowed to invest in certificate of deposit.