How the standard deduction worksĪll taxpayers have a standard deduction amount that is tied to their tax filing status, such as single, married filing jointly or other.
Choosing whether to use the standard deduction or to itemize will depend on the amount of itemized deductions you have for a given tax year. The standard tax deduction is a reduction from your taxable income that is available to taxpayers who opt not to itemize deductions on their tax return.
