The new deduction is separate and different from the standard deduction, meaning you can either take the standard deduction OR itemized deductions, and still qualify for this additional deduction. Technically speaking, it is not considered an increase to your standard deduction; rather, it is a separate deduction that will be "below the line" - in other words, it will be a deduction that comes AFTER adjusted gross income (AGI), so it will not have an impact on your AGI.
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