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Deductions & credits
Yes the new Standard Deduction is 24,000 for Joint. You get to take either the Standard Deduction or all your itemized deductions whichever is more. Everyone gets a Standard Deduction.
This year the Standard Deduction will be doubling so many people will be switching to the Standard Deduction. And there is a max 10,000 limit of State, local, property, and sales tax (SALT) deduction. And you can only deduct Medical/Dental that's over 7.5% of your AGI. And W2 job expenses have been suspended.
FAQ on 2018 changes
https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return
For 2018 the standard deduction amounts are:
Single 12,000 + 1,600 for 65 and over or blind
HOH 18,000 + 1,600 for 65 and over or blind
Joint 24,000+ 1,300 for each 65 and over or blind
Married filing Separate 12,000 + 1,300 for 65 and over or blind
This year the Standard Deduction will be doubling so many people will be switching to the Standard Deduction. And there is a max 10,000 limit of State, local, property, and sales tax (SALT) deduction. And you can only deduct Medical/Dental that's over 7.5% of your AGI. And W2 job expenses have been suspended.
FAQ on 2018 changes
https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return
For 2018 the standard deduction amounts are:
Single 12,000 + 1,600 for 65 and over or blind
HOH 18,000 + 1,600 for 65 and over or blind
Joint 24,000+ 1,300 for each 65 and over or blind
Married filing Separate 12,000 + 1,300 for 65 and over or blind
‎June 1, 2019
11:23 AM