Tax Year Prior to 2020: Documents need to be saved when I file standard deduction ?

Forum|Forum|6 years ago
February 26, 2020
2 replies
23 views

What documents/paperwork need to be saved when standard deduction is taken?

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Kat11_2

Alumni - Champ

You won't need to "prove" anything to the IRS is you're using the Standard Deduction. That's a given amount from the government. Support documentation is required, however, if you itemize your deductions and the IRS requests those documents.

Of course, you'll still save your W-2s, 1099's, etc. But you won't need any proof of personal deductible expenses.

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WillK

Level 14

If you do not claim itemized deductions, technicality you do not need to save your tax documents like mortgage interest and charitable contributions. However, you should save any tax documents that are on your tax returns like your W-2's, 1099's and/or health insurance paperwork in case you are audited.

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