2000 Tax Help Archives  

Chapter 21 - Standard Deduction

Important Changes

This is archived information that pertains only to the 2000 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Increase in standard deduction.
The standard deduction for taxpayers who do not itemize deductions on Schedule A of Form 1040 is higher in 2000 than it was in 1999. The amount depends on your filing status. 2000 Standard Deduction Tables are shown at the end of this chapter.

Itemized deductions.
The amount you can deduct for itemized deductions is limited if your adjusted gross income is more than $128,950 ($64,475 if you are married filing separately). See chapter 22 for more information.


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