Some examples from an outside source that I found include the 2012 standard deduction: “$5,950 for single filers, $11,900 for married joint filers, $5,950 for married taxpayers filing separately, and $8,700 for head of household filers.” More types of standard deduction for people over the age of 65 include: “$1,450 for single or head of household filers, and $1,150 for married filers.” This website stated that, “the standard deduction can be claimed on IRS Tax Form 1040, IRS Tax Form 1040A, or IRS Tax Form 1040E7.” Above-the-Line Deductions include: “student loan interest, business mileage, job-related moving expenses, alimony, contributions to qualified retirement accounts, early withdrawal penalties for CDs and saving accounts, qualified tuition and fees” (Types of Tax Deductions). Yes, I do believe these are all fair deductions, as long as they are used
Some examples from an outside source that I found include the 2012 standard deduction: “$5,950 for single filers, $11,900 for married joint filers, $5,950 for married taxpayers filing separately, and $8,700 for head of household filers.” More types of standard deduction for people over the age of 65 include: “$1,450 for single or head of household filers, and $1,150 for married filers.” This website stated that, “the standard deduction can be claimed on IRS Tax Form 1040, IRS Tax Form 1040A, or IRS Tax Form 1040E7.” Above-the-Line Deductions include: “student loan interest, business mileage, job-related moving expenses, alimony, contributions to qualified retirement accounts, early withdrawal penalties for CDs and saving accounts, qualified tuition and fees” (Types of Tax Deductions). Yes, I do believe these are all fair deductions, as long as they are used