Standard Deductions

• In 2011, the standard deduction amount for a single person is $5,800. If the single person can also file as head of household, the standard deduction increases to $8,500. Single persons who are blind or senior citizens may claim an additional $1,450 standard deduction.
  
  

Exemptions

• A single person can claim themselves as one exemption on their tax return for a deduction of $3,700 in 2011. A single person can also claim an exemption for any qualified dependent. The IRS rules for qualified dependents include children and parent’s for whom the taxpayer paid more than half of the expenses during the course of the year. Each exemption reduces the single person’s taxable income by $3,700.
  
  

Head of Household

• Single persons with a dependent child or parent can file their tax return as a head of household if they are not married on the last day of the calendar year. Filing as head of household can offer a lower overall tax rate with higher standard deductions than if the single person filed as single. To qualify as head of household in 2011, the single person must pay more than half of the expenses of their dependent parent’s home or live with a qualifying child or other qualified dependent for more than half of the year and paid more than half of the costs of keeping up the home for the year.
  
  

Retirement Plans

• Single persons with earned income who contribute to an individual retirement plan—IRA—can reduce their taxable income by up to $6,000 for the 2011 tax year. Age plays a role in the maximum tax deduction; single persons aged 49 and younger may only deduct up to $5,000, while single persons older than 50 may deduct up to $6,000.
  
  

Itemized Deductions

• If deductions total more than the standard allowable deduction, single persons may choose to itemize the deductions. Qualified itemized deductions include the interest paid on a mortgage loan, medical expenses totaling more than 7.5 percent of their adjusted gross income and charitable contributions. Monetary contributions, clothes and household furnishings in good conditions qualify for the deduction as long as the taxpayer has a receipt to back up the contribution.