Standard/Itemized Deductions My husband and I are trying to determine if we are better off if we file as married filing jointly or married filing separately.
I am confused by this statement in the 1040 instruction book: "If your spouse itemizes deductions, you cannot claim the standard deduction. If you can claim the standard deduction, your basic standard deduction is half the amount allowed on a joint return"
If one of us itemizes, what amount of deduction can the other spouse take?
Thanks,
J. |