Schedule A Standard Deduction 2022
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Schedule A Standard Deduction 2022. A deduction cuts the income you're taxed on. The standard deduction is increased by an additional amount for taxpayers who are 65 or older, or are blind.
The standard deduction reduces taxable income. As such, you can use a standard mileage rate or pick the. For 2022, the standard deduction will be worth:
2 comparing standard deduction and itemized deductions;
The standard deduction is an amount every taxpayer is allowed to take as a deduction from their income to reduce their taxable income. The only difference between “different” standard deductions is that they change your filing status. For the 2022 tax year, the standard deduction is $12,950 for single filers and married filing separately, $25,900 for joint filers and $19,400 for head of household. This means that the sum of your itemized deductions must be larger than $25,900 to justify itemizing.
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