This Blog will explain the Standard Deduction and Itemized Deduction that are available to Taxpayers for the 2018 Tax Year. The Standard or Itemized Deduction is reported on the Bottom Half of the new “1040 Simplified” tax form, and uses the Schedule A to total the Itemized Deductions the Taxpayer qualified to use for the 2018 Tax Year.
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Legal Disclaimer: Nothing written or expressed in this Blog shall be construed as legal, accounting, or tax advice. This Blog is for informational purposes only, to inform Individuals about the IRS tax forms required to file an individual tax return, and the instructions that accompany such IRS tax forms.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any tax transaction or filing any tax form.