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Standard Deduction

If you selected Married Filing Separately on a combined return, you can choose to allocate the standard deduction between spouses in a mutual agreement. As a general rule, you can lower your combined tax by assigning deductions

Federal > Deductions > Standard Deduction

The IRS allows every taxpayer, based on your filing status, to deduct a flat dollar amount from your Adjusted Gross Income (AGI). 2016 Standard Deduction Amounts: Single or Married Filing Separate (MFS) $ 6,300 Married Filing Joint (MFJ

Standard Deduction and Exemption Amounts

2015 Standard Deduction and Exemptions 1. Single - $6,300 2. Married Filing Joint - $12,600 3. Married Filing Separately - $6,300 4. Head of Household - $9,250 5. Qualifying Widow(er) - $12,600 Personal Exemption(s) - $4,000

Federal Section > Deductions > Itemized vs Standard Deduction Comparison

This section shows you the total of your Itemized Deductions entered and compares it to your Standard Deduction. Unless you choose to force Itemized Deductions, we will automatically select the greater deduction .

2016 Standard Mileage Rates

Beginning Jan. 1, 2016, the standard mileage rate for the use of a car (also vans, pickups or panel trucks) increased to: * 54 cents per mile for business miles driven. * 19 cents per mile driven for medical or moving purposes. * 14 cents

2015 Standard Mileage Rates

The 2015 standard mileage rates for the use of a car (also vans, pickups or panel trucks) is: * 57.5 cents per mile for business miles driven * 23 cents per mile driven for medical or moving purposes * 14 cents per mile driven in service

Sales Tax Deduction Calculator

Using the Sales Tax Deduction Calculator To figure the amount of optional general sales tax you are eligible to claim, just answer a few online questions and the system does the rest. First select the tax year for which you are preparing

Indiana Renter's Deduction

You may be able to take the Indiana renter's deduction if: * You paid rent on your principal place of residence and * The place you rented was subject to Indiana property tax. Your "principal place of residence" is the place where you have

Indiana Insulation Deduction

You may be able to take this deduction if you installed new insulation in your Indiana home during 2015. Insulation includes weather stripping, double pane windows, storm doors and storm windows. To take this deduction the following

Indiana Military Service Deduction

If your income includes active or reserve military pay, you will be able to take a deduction (regardless of your age). If you are retired from the military or are the surviving spouse of a person who was in the military, you may be able