Sentences with phrase «federal standard deduction»

The state Senate bill approved Tuesday would remove the existing state prohibition on itemizing a state income tax return if the taxpayer decides to take the higher federal standard deduction.
The standard deduction in Nebraska matches the federal standard deduction.
Ohio residents with income greater than the federal standard deduction are required to file an Ohio income tax return, the IT - 1040.
The amount of the federal standard deduction varies by year and is based on the taxpayer's filing characteristics.
For example, in states like Virginia, taxpayers currently have to take a state standard deduction if they also use a federal standard deduction, Richard Beason, a CPA working in Roanoke, Va., and Hilton Head, S.C., tells the publication.
The federal standard deduction for 2016 is $ 6,300 per filer (or $ 9250 for head of household).
Some taxpayers can not take the federal standard deduction.
Louisiana also allows taxpayers to deduct the amount of their federal itemized deductions that were in excess of the federal standard deduction on their federal tax return, and to deduct school expenses for dependents who are currently in school.
The standard deduction is equal to the federal standard deduction, which in 2017 is $ 6,350 for single filers, $ 12,700 for joint filers and $ 9,350 for heads of household.
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