Your standard deduction may be limited if you are claimed as a dependent on someone else's tax return for example, if you are claimed as a dependent on your parents' tax return. You are a nonresident alien, dual–status alien, or an individual who files tax returns for periods of less than 12 months.You are filing as married filing separately and your spouse itemizes (you must both either itemize or claim the standard deduction).You cannot claim the standard deduction if any of the following situations apply to you: The standard deduction amounts for any given tax year are based on filing status and age and are updated each year for inflation see the current standard deduction dollar amounts. It is a portion of your income which is not subject to tax, thus reducing your tax bill. The standard deduction is a dollar amount that directly reduces your taxable income everyone who is not a dependent is entitled to this deduction. If you want more information about whether to claim the standard deduction or itemized deductions, read on or start your return on and see the actual results based on your personal tax situation. With tax reform and the increased standard deduction amounts, the standard deduction is the best choice for a lot of folks. If you need to change it for other reasons, it is simple to change it as well. Once you have prepared your return, you can view the results and see which method was chosen for you. When you prepare your return on, we will calculate which is better for you and which gives you the most tax advantages (the largest refund or the lowest taxes owed) for your tax return.
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