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Deductions & credits
ANNND...if your income is so low, that the Std Ded actually wipes out your taxable income without using the itemized $$....then yes, the Std Ded is usually used instead.
A simpler tax file, and an advantage in that any state refund will not be included as income in next year's Federal tax return. (might be exceptions though)
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎April 17, 2023
5:22 PM