The Tax Cuts and Jobs Act just about doubled the standard deduction amounts for individuals for 2018 through 2025. As a result, the law eliminated or curtailed various itemized deductions. Today, most individuals (the Tax Foundation estimates 90%) choose the standard deduction instead of itemizing personal deductions. You have to decide which option is better for your situation. You can’t do both.
Which standard deduction amount is for you?
The amount of the standard deduction depends on your filing status.
