Deductions & credits

Don't confuse itemized deductions on schedule A with your business expenses/deductions on schedule C. They are separate. For Schedule A personal deductions, you get to take your itemized deductions or the standard deduction, whichever is larger.

 

There is no min amount or standard amount for schedule C business expenses. You get to take both your Standard Deduction or itemized deductions on Schedule A and all your business expenses on Schedule C.

 

Do you think you have enough deductions to itemize?  Some deductions are limited.

For 2019 the standard deduction amounts are:

Single 12,200 + 1,650 for 65 and over or blind

HOH 18,350 + 1,650for 65 and over or blind

Joint 24,400+ 1,300 for each 65 and over or blind

Married filing Separate 12,200 + 1,300 for 65 and over or blind

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