What is standard deduction

[burton3032]

Should I do standard deduction

[fanfare]

Visit <a rel="nofollow" target="_blank" href="http://www.irs.gov">www.irs.gov</a> for a copy of Schedule A to see if itemized deductions would work for you.

[VolvoGirl · Accepted solution]

Yes, everyone gets the Standard Deduction unless their Itemized Deductions are more.  It's a good thing.  If you are Single or a dependent you get a 6,300 Standard Deduction.  That is 6,300 subtracted from your income before the tax is calculated so you get taxed on a lower amount of income.  The first 6,300 of income is tax free.

[AshleyRose]

The standard deduction is a fixed dollar amount that reduces your taxable federal income. Think of it as tax-free income that you get to keep before taxes are applied to the rest.

To figure your 2016 standard deduction amount, simply select your filing status below in the TurboTax FAQ. (Don't worry – TurboTax automatically calculates this for you, assuming you're taking the standard deduction.)

https://ttlc.intuit.com/replies/4208574