Publication 17
taxmap/pub17/p17-102.htm#en_us_publink1000173028You should itemize deductions if your total deductions are more than the standard deduction amount. Also, you should itemize if you do not qualify for the standard deduction, as discussed earlier under
Persons not eligible for the standard deduction.
You should first figure your itemized deductions and compare that amount to your
standard deduction to make sure you are using the method that gives you the
greater benefit.
taxmap/pub17/p17-102.htm#en_us_publink1000173032You may benefit from itemizing your deductions on Schedule A (Form 1040) if you:
- Do not qualify for the standard deduction, or the amount you can claim is
limited,
- Had large uninsured medical and dental expenses during the
year,
- Paid interest and taxes on your home,
- Had large unreimbursed employee business expenses or other miscellaneous
deductions,
- Had large uninsured casualty or theft losses,
- Made large contributions to qualified charities, or
- Have total itemized deductions that are more than the standard deduction to which you otherwise are
entitled.
These deductions are explained in chapters 21–28.
If you decide to itemize your deductions, complete Schedule A and attach it to your Form 1040. Enter the amount from Schedule A, line 29, on Form 1040, line
40.
taxmap/pub17/p17-102.htm#en_us_publink1000173033Even if your itemized deductions are less than your standard deduction, you can elect to itemize deductions on your federal return rather than take the standard deduction. You may want to do this if, for example, the tax benefit of itemizing your deductions on your state tax return is greater than the tax benefit you lose on your federal return by not taking the standard deduction. To make this election, you must check the box on line 30 of Schedule A.
taxmap/pub17/p17-102.htm#en_us_publink1000173034If you do not itemize your deductions and later find that you should have itemized — or if you itemize your deductions and later find you should not have — you can change your return by filing Form 1040X, Amended U.S. Individual Income Tax Return. See
Amended Returns and Claims for Refund in chapter 1 for more information on amended returns.
taxmap/pub17/p17-102.htm#en_us_publink1000173036You can change methods of taking deductions only if you and your spouse both make the same changes. Both of you must file a consent to assessment for any additional tax either one may owe as a result of the change.
You and your spouse can use the method that gives you the lower total tax, even though one of you may pay more tax than you would have paid by using the other method. You both must use the same method of claiming deductions. If one itemizes deductions, the other should itemize because he or she will not qualify for the standard deduction. See
Persons not eligible for the standard deduction, earlier.
taxmap/pub17/p17-102.htm#en_us_publink10002837812012 Standard Deduction Tables
| If you are married filing a separate return and your spouse itemizes deductions, or if you are a dual-status alien, you cannot take the standard deduction even if you were born before January 2, 1948, or are blind.
|
Table 20-1.Standard Deduction Chart for Most People*
If your filing status is... | Your standard deduction is: |
Single or Married filing separately | $5,950 |
Married filing jointly or Qualifying widow(er) with dependent
child | 11,900 |
Head of household | 8,700 |
*Do not use this chart if you were born before January 2, 1948, are blind, or if someone else can claim you (or your spouse if filing jointly) as a dependent. Use Table 20-2 or 20-3 instead.
|
Table 20-2.Standard Deduction Chart for People Born Before January 2, 1948, or Who are
Blind
Check the correct number of boxes below. Then go to the chart. |
You:
| Born before January 2, 1948 □ | Blind □ |
Your spouse, if claiming spouse's exemption:
| Born before January 2, 1948 □ | Blind □ |
Total number of boxes checked
| |
IF
your filing status is... | AND the number in the box above is... | THEN your standard deduction is... |
Single | 1 | $7,400 |
| 2 | 8,850 |
Married filing jointly
| 1 | $13,050 |
or Qualifying | 2 | 14,200 |
widow(er) with | 3 | 15,350 |
dependent child | 4 | 16,500 |
Married filing
| 1 | $7,100 |
separately | 2 | 8,250 |
| 3 | 9,400 |
| 4 | 10,550 |
Head of household | 1 | $10,150 |
| 2 | 11,600 |
*If someone else can claim you (or your spouse if filing jointly) as a dependent, use Table 20-3 instead.
|
Table 20-3.Standard Deduction Worksheet for Dependents
Use this worksheet only if someone else can claim you (or your spouse if filing jointly) as a dependent.
Check the correct number of boxes below. Then go to the worksheet. |
You:
| | Born before January 2, 1948 □ | Blind □ |
Your spouse, if claiming spouse's exemption:
| Born before January 2, 1948 □ | Blind □ |
Total number of boxes checked
|
1.
| Enter your earned income (defined below). If none, enter
-0-. | 1. | |
2.
| Additional amount. | 2. | $300 |
3.
| Add lines 1 and 2.
| 3. | |
4.
| Minimum standard deduction. | 4. | $950 |
5.
| Enter the larger of line 3 or line 4.
| 5. | |
6.
| Enter the amount shown below for your filing status.
- Single or Married filing separately—$5,950
- Married filing jointly—$11,900
- Head of household—$8,700
| 6. | |
7.
| Standard deduction.
| | | |
| a. | Enter the smaller of line 5 or line 6. If born after January 1, 1948, and not blind, stop here. This is your standard deduction. Otherwise, go on to line 7b.
| 7a. | |
| b. | If born before January 2, 1948, or blind, multiply $1,450 ($1,150 if married) by the number in the box
above. | 7b. | |
| c. | Add lines 7a and 7b. This is your standard deduction for
2012. | 7c. | |
Earned income
includes wages, salaries, tips, professional fees, and other compensation
received for personal services you performed. It also includes any amount
received as a scholarship that you must include in your income. |