Standard deduction example

How to claim the standard deduction

Claiming the standard deduction is simple. If you prepare your tax return on paper, use Form 1040 to calculate your taxable income.

Usually on line 12 of the form, you have the option to write in either the standard deduction amount for your filing status or the sum of your itemized deductions. If you’re using the standard deduction, just write in the value of the deduction based on the tax year, your filing status, and whether you qualify for any additions because of your or your spouse’s age or blindness.

If you prepare your return using tax software or the IRS’s Free File, check a box and select the standard deduction.

What is the extra standard deduction for seniors over 65?

If a tax preparer files your taxes, let them know you’d like to take the standard deduction and they’ll handle this calculation for you. Don’t be surprised if they ask you about potential itemized deductions. It’s part of their job to help you avoid common tax pitfalls, such as taking the standard deduction when itemizing could lower your tax bill more.

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