I was laid off in April 2025 and rolled over my 401k to a traditional IRA. My 2025 income will be less than half of my 2024 income (under $55k). Additionally, I also received 6 months of unemployment benefits, Medi-Cal, and SNAP. What is the likelihood that I will get a federal and state (California) tax refund? Are there any tax advantages I should file for? Do I need a standard or itemized deduction?
