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Line 40 of Form 1040 is for your standard or itemized deduction. The standard deduction is based upon you filing status and age. Whichever is higher, standard or itemized deduction, is used for Line 40. If you were age 65 or older the standard deduction is increased.
Standard deductions for 2016
Line 40 of Form 1040 is for your standard or itemized deduction. The standard deduction is based upon you filing status and age. Whichever is higher, standard or itemized deduction, is used for Line 40. If you were age 65 or older the standard deduction is increased.
Standard deductions for 2016
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