NextPrevious

Taxes

Federal Taxes

What is the standard deduction?

The IRS gives all tax filers a standard deduction depending on their filing status. If you think your itemized deductions may be higher than the standard deduction, it may make sense to submit itemized deductions on Schedule A with your Form 1040.



Close

This is a web preview of the "The Handy Personal Finance Answer Book" app. Many features only work on your mobile device. If you like what you see, we hope you will consider buying. Get the App