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Deductions & credits
This year you can enter any amount. You get to deduct up to $300 in addition to the Standard Deduction.
If you have more Deductions than the Standard Deduction you can Itemize on Schedule A.
For 2020 the standard deduction amounts are:
Single 12,400 + 1,650 for 65 and over or blind (14,050)
HOH 18,650 + 1,650 for 65 and over or blind
Joint 24,800 + 1,300 for each 65 and over or blind
Married filing Separate 12,400 + 1,300 for 65 and over or blind
March 1, 2021
3:08 PM