Deductions & credits


@red1ken wrote:

Does that also apply for the 2100 dollars I spend for health insurance through my employers plan? And how about my union dues---any of that deductable?


Union dues are no longer deductible.

If the health insurance you pay is pre-tax then those payments are not deductible.  If they are paid with after tax funds then the insurance payments would be an itemized deduction.  But since the Standard Deduction has increased most taxpayers no longer are eligible for itemized deductions.

 

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

Standard deductions for 2019

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older