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The standard deduction is based on filing status and typically increases each ... 2010: $5,700: $11,400: $8,400 2009: $8,350 2008 ... 1040 Instruction Booklet for ...
For 2010, the amounts for the standard deduction were $5,700 for single taxpayers and $11,400 for married taxpayers filing joint returns. Additional standard deductions are available for the blind ...
Each year, taxpayers have the option of claiming the standard deduction or the itemized deduction. For the tax year 2010, the standard deduction remains unchangedat $5,700 for single taxpayers or ...
For 2009 and 2010 there was an additional form, Schedule M, ... The Individual Income Tax Act of 1944 created standard deductions on the 1040. [67]
The decision tends to be a financial one: You should generally itemize your deductions on your federal form 1040, Schedule A, if your itemized deductions are more than your standard deduction. For ...
Schedule L (until 2010) was used to figure an increased standard deduction in certain cases. [6] Schedule M (2009 and 2010) was used to claim the Making Work Pay tax credit (6.2% earned income credit, up to $400). [7] Schedule R is used to calculate the Credit for the Elderly or the Disabled.