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February 24, 2025
Question

I am being told a standard deduction is right for me. Will I get a larger refund than if I filed itemized?

  • February 24, 2025
  • 1 reply
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In CT

    1 reply

    DoninGA
    February 24, 2025

    The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit on a federal tax return.

     

    Standard deductions for 2024

    Single - $14,600 add $1,850 if age 65 or older
    Married Filing Separately - $14,600 add $1,550 if age 65 or older
    Married Filing Jointly - $29,200 add $1,550 for each spouse age 65 or older
    Head of Household - $21,900 add $1,950 if age 65 or older