How do I find out if standard deductible is best way to file and the difference between the 2?

ninaroar — Mon, 06 Apr 2020 00:39:48 GMT

Re: How do I find out if standard deductible is best way to file and the difference between the 2?

AlanT222 — Mon, 06 Apr 2020 00:57:29 GMT

The federal Standard Deduction is a fixed dollar amount, based on your filing status and age, that the IRS lets you take off (deduct) from your taxable income.

On the other hand, itemizing deductions allows you to list (itemize) your deductions on Schedule A.

The IRS lets you either choose the "bundled" Standard Deduction or go "a la carte" and itemize your deductions. Naturally, most taxpayers want the one that gives them the most money back. After you've completed the Deductions & Credits section of TurboTax, we'll let you know which deduction gives you the biggest tax break.

topic How do I find out if standard deductible is best way to file and the difference between the 2? in Deductions & credits

How do I find out if standard deductible is best way to file and the difference between the 2?

Re: How do I find out if standard deductible is best way to file and the difference between the 2?