Standard vs. Itemized Deduction

This handout compares the use of the standard deduction vs. using itemized deductions.

HIGHLIGHTS: 

  1. Standard deduction amounts.

  2. Itemized deduction limitations.

  3. Nondeductible expenses.

  4. Medical expense limitations.

  5. State and local taxes limitation.


CLIENTS WHO MAY BENEFIT:

  1. Taxpayers whose itemized deductions are near the amount of the standard deduction.

  2. Taxpayers with substantial state and local taxes.

  3. Taxpayers with substantial medical expenses.

Individual Income TaxClare FazackerleyTax, Standard Deduction, Itemized Deductions, Medical Expenses, Deduction Limitations, State and Local Taxes