Standard Deduction and Tax Computation

Deductions

• Introduction
  • Welcome
  • Objectives
• Deductions
  • What are deductions?
  • The Standard Deduction
  • Itemized deductions
  • Who cannot take the standard deduction
• Age and Blindness
  • Age and Blindness
  • Who Qualifies as 65 or Older?
  • Who qualifies as blind?
  • What if only one spouse is over 65 or blind?
• Taxpayers who can be Claimed as Dependents
  • Taxpayers who can be Claimed as Dependents
• Standard Deduction vs. Itemizing
  • Who should itemize?
• Determining Taxable Income and Tax
  • Figuring the taxes
• Out of Scope
  • Out of Scope Situations for VITA/TCE
• Practice — Vanessa Franklin
  • Practice
• Summary and Exercises
  • Summary
  • Practice Lab
  • Conclusion

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