Stock Market. Industries to Invest In. Getting Started. Planning for Retirement. Retired: What Now? Personal Finance. Credit Cards. About Us. Who Is the Motley Fool? Fool Podcasts. New Ventures. Search Search:. Dec 30, at AM. Author Bio Charlene Rhinehart is a personal finance writer and former financial analyst.
Her goal is to help more individuals build a stock portfolio that's bigger than their shoe collection. Once again, the additional deduction amount is doubled for anyone who is both 65 and blind. But, again, the total can't exceed the basic standard deduction for your filing status.
If you had unreimbursed casualty losses from a federally declared disaster not including major disasters declared only because of COVID and you didn't itemize, you could claim an increased standard deduction on your tax return. Unfortunately, that tax break doesn't apply for the tax year. Skip to header Skip to main content Skip to footer. Home Tax Breaks. Tax Breaks. What Are the Income Tax Brackets for vs. Most Popular. February 25, Investing for Income. Fidelity funds are renowned for their managers' stock-picking prowess.
We rate Fidelity's best actively managed funds that are popular in k plans…. October 25, If you or your spouse are considered blind or are age 65 or older, you can claim an additional standard deduction amount. As you go through the step-by-step interview, TaxAct prompts you to enter itemized deductions, such as mortgage interest expense and charitable contributions. If your total itemized deductions are more than your standard deduction, TaxAct uses your itemized deductions to calculate your taxes.
One way TaxAct can help you find more tax deductions is to compare your deductions this year to the deductions you took last year. Use the TaxAct Prior Year Comparison Report to see if the numbers are similar, and if not, if you may be missing a valuable deduction. Back to My Tax Information.
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