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ramatduke
New Member

Married joint filing. How do I know the better option standard deduction or itemized?

 
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CarolynM
Level 1

Married joint filing. How do I know the better option standard deduction or itemized?

The standard deduction for married jointly filers is now $24,000.

Itemized deductions include medical expenses (which must exceed 7.5% of your AGI), mortgage interest, charity donations and state/local taxes (which are now capped at $10,000). 

Many taxpayer are now taking the increased standard deduction, but you will need to review your possible itemized deductions to determine for yourself.

For more information, follow this link: Should You Itemize

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