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Standard vs. itemized deductions depend on your situation (access required)

Q: Can you explain the advantages of itemizing deductions versus taking the standard deduction? And what exactly can I take as an itemized deduction? A: When filing your individual tax return you have a choice of itemizing your deductions or taking the standard deduction that the Internal Revenue Service publishes each year, whichever is better. ...

About Peter G. Robbins, CPA