When You Can't or Shouldn't Claim the Standard Deduction
The higher standard deduction has some people thinking they can handle their own personal income-tax preparation. They may want to think again. For instance, you can’t use the standard deduction if you’re:
- A married individual filing as married filing separately whose spouse itemizes deductions
- Filing a tax return for less than 12 months because of a change in your annual accounting period
- A nonresident alien or a dual-status alien during the year—unless you’re married to a U.S. citizen or resident alien at the end of the year and choose to be treated as a U.S. resident for tax purposes
- Filing as an estate or trust, common trust fund, or partnership
Even with standard deductions of $27,700 for 2023 and $29,200 for 2024, you may want to itemize deductions if you:
- Had large uninsured medical and dental expenses
- Paid interest and taxes on your home
- Had large uninsured casualty or theft losses
- Made large contributions to qualified charities
Your tax advisor can help you determine what’s best for you.
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