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Tax Deductions Standard Deduction Itemized Deduction standard deduction an amount of money set by the IRS that is not taxed itemized deduction a specific.

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Presentation on theme: "Tax Deductions Standard Deduction Itemized Deduction standard deduction an amount of money set by the IRS that is not taxed itemized deduction a specific."— Presentation transcript:

1 Tax Deductions Standard Deduction Itemized Deduction standard deduction an amount of money set by the IRS that is not taxed itemized deduction a specific expense that can be deducted from the adjusted gross income

2 Common Tax Deductions Medical and Dental Expenses Taxes Interest Contributions

3 The Federal Income Tax Return Preparing an Income Tax Return Three Basic Forms Form 1040EZ Form 1040A Form 1040

4 Completing the Federal Income Tax Return Tax Forms and Instruction Booklets Copies of Your Tax Returns Your W-2 Form Interest and Dividend Forms Receipts for deductible expenses Document Checklist

5 Completing the Federal Income Tax Return Preparing an Income Tax Return Two Ways for You to File Electronically Use an authorized e-file provider Use your personal computer and tax software

6 Tax Assistance Tax Assistance and Strategies Sources of Tax Assistance IRS Web Site Books Software Professionals


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