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eTax.com Standard or Itemized Deduction?
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Often, you’ll have to choose between itemizing your deductions and taking a standard deduction when you are filing your taxes. You should determine what your deductions amount to using both methods, then choose which option decreases the amount of tax that you owe.
If a married couple files separately, and one spouse chooses to itemize, the other spouse may also be required to do so.
Typically, the method that leads to the largest deduction will provide the biggest credit.
Often, you’ll have to choose between itemizing your deductions and taking a standard deduction when you are filing your taxes. You should determine what your deductions amount to using both methods, then choose which option decreases the amount of tax that you owe.
If a married couple files separately, and one spouse chooses to itemize, the other spouse may also be required to do so.
Typically, the method that leads to the largest deduction will provide the biggest credit.
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