Most taxpayers have a choice of either taking a standard deduction or itemizing their deductions. If you have a choice, you
can use the method that gives you the lower tax
The standard deduction is a dollar amount that reduces your taxable
income. It is a benefit that eliminates the need for many
taxpayers to itemize actual deductions, such as
medical expenses, charitable contributions, and taxes, on Schedule A
(Form
1040). The standard deduction is higher for
taxpayers who:
-
Are 65 or older, or
-
Are blind.
If you have
itemized deductions this year that are greater than your
Standard Deduction ,
TurboTax will use the higher amount for the maximum refund
WWW.IRS.GOV
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