As the April 15 tax deadline approaches, here’s what you need to know about claiming deductions on your tax return. The standard deduction is a flat-dollar reduction to your adjusted gross income (AGI ...

The 2023 standard deduction is $13,850 for single taxpayers ($20,800 if you're filing as head of household), $27,700 for married taxpayers, and slightly more if you're over 65.If you own a home and ...

Tip: Compare your mortgage interest, points, and mortgage insurance premiums to your standard deduction. If the total is larger than your standard deduction, there's a good chance you would benefit ...