Tax Q&A: What's the deduction?
What is the standard deduction? And are there extra benefits this year for anyone who doesn’t itemize?
The standard deduction for 2009 taxes is $11,400 for those who are married and filing jointly. For singles, it’s $5,700. ![]()
If you were 65 or older last year, you can add $1,100 to that amount for married filing jointly. If you are single, you can add $1,400.
For this tax year only, if you don’t itemize your taxes, you are allowed to add up to $500 for singles and up to $1,000 for married filing jointly if you paid state or local real estate taxes.
Also, those who don’t itemize may be able to add sales tax on the purchase of a new vehicle last year.
That purchase had to be made after Feb. 16 and the additional deduction is for sales tax on vehicles purchased for up to $49,500. If you paid more than that, you can’t add the entire sales tax amount to your bill. There are some income limits on this provision.
Ask your question at: SunSentinel.com/taxquestion




Harriet Johnson Brackey, the personal finance columnist for the Sun Sentinel, is an award-winning business reporter. Her columns for 2008 were named "The Best in the Business," a national award chosen by her colleagues at the Society of American Business Editors and Writers.
Comments
If in 2009 everything was identical to 2008 on your taxes will the result be the same or has the tax table be adjusted up or down this year.
Posted by: fred | January 27, 2010 2:01 PM
Using the 1040A:
On the standard Decuction, my husband and I are entitled to take $2,200 being over 65.
But: To use the deduction OF $1,000 for Real Estate Taxes on the Schedule L form; there is no way on the 1040A form to get both deductions. How can we get both deductions added to the Standard Deductions? ?
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