FS-2024-11: Deductions for individuals: The difference between standard and itemized deductions and what they mean

Bookmark and Share

IRS.gov Banner
IRS Newswire April 10, 2024

News Essentials

What’s Hot

News Releases

IRS – The Basics

IRS Guidance

Media Contacts

Facts & Figures

Around The Nation

e-News Subscriptions


The Newsroom Topics

Multimedia Center

Noticias en Español

Radio PSAs

Tax Scams

The Tax Gap

Fact Sheets

IRS Tax Tips

Armed Forces

Latest News Home


IRS Resources

Contact My Local Office

Filing Options

Forms & Instructions

Frequently Asked Questions

News

Taxpayer Advocate

Where to File

IRS Social Media


Issue Number:    FS-2024-11

Inside This Issue


Deductions for individuals: The difference between standard and itemized deductions and what they mean

A deduction reduces the amount of a taxpayer’s income that’s subject to tax, generally reducing the amount of tax the individual may have to pay. Most taxpayers now qualify for the standard deduction, but there are some important details involving itemized deductions that people should keep in mind.

Standard deduction

The standard deduction is a specific dollar amount that reduces the amount of taxable income. The standard deduction consists of the sum of the basic standard deduction and any additional standard deduction amounts for age and/or blindness.

In general, the IRS adjusts the standard deduction each year for inflation. It varies by filing status, whether the taxpayer is 65 or older and/or blind and whether another taxpayer can claim them as a dependent.

Taxpayers cannot take the standard deduction if they itemize their deductions. Taxpayers can refer to Topic No. 501, Should I Itemize?, for more information.

Itemized deductions

Some taxpayers choose to itemize their deductions if their allowable itemized deductions total is greater than their standard deduction. Other taxpayers must itemize deductions because they aren’t entitled to use the standard deduction.

Taxpayers who must itemize deductions include:

  • A married individual filing as married filing separately whose spouse itemizes deductions.
  • An individual who was a nonresident alien or dual status alien during the year (some exceptions apply).
  • An individual who files a return for a period of less than 12 months due to a change in his or her annual accounting period.
  • An estate or trust, common trust fund or partnership.

Schedule A (Form 1040) for itemized deductions

Taxpayers use Schedule A (Form 1040, Itemized Deductions or 1040-SR, U.S. Tax Return for Seniors) to figure their itemized deductions. In most cases, their federal income tax owed will be less if they take the larger of their itemized deductions or standard deduction.

Taxpayers can review the instructions for Schedule A (Form 1040), Itemized Deductions, to calculate their itemized deductions, such as certain medical and dental expenses, and amounts paid for certain taxes, interest, contributions and other expenses. Taxpayers may also deduct certain casualty and theft losses on Schedule A.

Interactive Tax Assistant can help with deduction questions

The Interactive Tax Assistant (ITA) provides answers to tax law questions based on a taxpayer’s individual circumstances. It can help a taxpayer determine the answer to common questions, such as if they:

  • Must file a tax return.
  • Have the correct filing status.
  • Can claim a dependent.
  • Have taxable income.
  • Are eligible to claim a credit.
  • Can deduct expenses.

The ITA can help taxpayers with these deduction-related questions:

Back to Top


FaceBook Logo  YouTube Logo  Instagram Logo  Twitter Logo  LinkedIn Logo


Thank you for subscribing to the IRS Newswire, an IRS e-mail service.

If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe.

This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.


This email was sent to 65irs29@cpaemailnewsletter.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535 GovDelivery logo

Leave a Reply