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Itemized Deductions

Taxpayers may itemize deductions or take the standard deduction. The standard deduction amounts for 2014 are as follows: $6,200 for single persons, $9,100 for heads of household, $12,400 for married filing jointly or qualifying widower, and $6,200 for married filing separately.

In itemizing deductions, the following are major items that may be deducted in 2012: state, local, and foreign income, and property taxes, charitable contributions, employee moving expenses, medical savings accounts, casualty losses, mortgage interest, and miscellaneous deductions.

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Adjusted Gross Income Federal Individual Income Tax Personal Exemptions