Every taxpayer gets to choose between a standard deduction and itemized deductions. Itemized deductions
mean you get to add up all the various deductions you might qualify for, and
then use that total (on Schedule A of the 1040) to lower your taxable income.
But the IRS also has a fixed "standard deduction" (currently
$6300 for a single filer; $12,600 for married filing jointly) for people who
either don't want to itemize, or don't have many deductions they can itemize.
The good thing is that every taxpayer gets to choose which one
he/she wants to take on the tax return. All you need to do is enter all your
information, and TurboTax will calculate which deduction is larger (and better)
for you to use. If the standard deduction is worth more on your tax
return than all your itemized deductions, then TurboTax will give you the
standard deduction. And if the opposite is true, then TurboTax will give
you the Schedule A itemized deductions.
That's how it works.
