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[Event] Ask the Experts: Extension Filers
As you are still married, there are only two filing statuses available: Married Filing Jointly (MFJ) and Married Filing Separately (MFS). For 2024, the standard deduction for MFJ is 29,200, and for MFS it is 14,600 (the same as filing single).
If your itemized deductions are less than these amounts, TurboTax will recommend the standard deduction, as it is the more favorable tax position. The standard deduction does not require any documentation to be claimed and it is accessible to taxpayers in most circumstances.
If you are filing Married Filing Separately (MFS) however, there is one further consideration. Both you and your spouse need to choose either the standard deduction or itemized deduction. To put it another way, if one of you opt to itemize deductions, both of you must itemize deductions, and vice versa.
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