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February 13, 2025
Question

How do you know when to file an itemized or take the standard deduction ?

  • February 13, 2025
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    February 13, 2025

    When you are unsure, it's best to enter in all of your itemized expenses into TurboTax.  The software will compute the higher deduction and take it for you.  

     

    If you want to estimate before going to the trouble of entering your expenses, here are the standard deductions for 2024:

     

    • Single and Married Filing Separately taxpayers: $14,600
    • Married Filing Jointly taxpayers: $29,200
    • Head of Household: $21,900

     

    Here is an article you may find helpful: Standard Deduction vs. Itemized Deductions: Which Is Better?