Page 24

on lines 7a and 7b and enters the standard de- duction amount of $5,050 on line 7c. Example 4. E is 18 years old and single and can be claimed as a dependent on E’s pa- rents’ 2022 tax return. E has wages of $7,000, interest income of $500, a business loss of $3,000, and no itemized deductions. E uses Ta- ble 8 to figure the standard deduction amount. E enters $4,000 ($7,000 − $3,000) on line 1, adds lines 1 and 2, and enters $4,400 on line 3. On line 5, E enters $4,400, the larger of lines 3 and 4, and, because E is single, $12,950 on line 6. On line 7a, E enters $4,400 as the stand- ard deduction amount because it is smaller than $12,950, the amount on line 6. Who Should Itemize You should itemize deductions if your total de- ductions are more than the standard deduction amount. Also, you should itemize if you don't qualify for the standard deduction, as dis- cussed, earlier, under Persons not eligible for the standard deduction. You should first figure your itemized deduc- tions and compare that amount to your stand- ard deduction to make sure you are using the method that gives you the greater benefit. When to itemize. You may benefit from itemizing your deductions on Schedule A (Form 1040) if you: 1. Don't qualify for the standard deduction, 2. Had large uninsured medical and dental expenses during the year, 3. Paid interest and taxes on your home, 4. Had large uninsured casualty or theft los- ses, 5. Made large contributions to qualified chari- ties, or 6. Have total itemized deductions that are more than the standard deduction to which you are otherwise entitled. If you decide to itemize your deductions, complete Schedule A and attach it to your Form 1040 or 1040-SR. Enter the amount from Schedule A, line 17, on Form 1040 or 1040-SR, line 12. Electing to itemize for state tax or other purposes. Even if your itemized deductions are less than your standard deduction, you can elect to itemize deductions on your federal re- turn rather than take the standard deduction. You may want to do this if, for example, the tax benefit of itemizing your deductions on your state tax return is greater than the tax benefit you lose on your federal return by not taking the standard deduction. To make this election, you must check the box on line 18 of Schedule A. Changing your mind. If you don't itemize your deductions and later find that you should have itemized—or if you itemize your deductions and later find you shouldn't have—you can change your return by filing Form 1040-X. Married persons who filed separate re- turns. You can change methods of taking de- ductions only if you and your spouse both make the same changes. Both of you must file a con- sent to assessment for any additional tax either one may owe as a result of the change. You and your spouse can use the method that gives you the lower total tax, even though one of you may pay more tax than you would have paid by using the other method. You both must use the same method of claiming deduc- tions. If one itemizes deductions, the other should itemize because the other spouse won't qualify for the standard deduction. See Persons not eligible for the standard deduction, earlier. 2022 Standard Deduction Tables If you are married filing a separate re- turn and your spouse itemizes deduc- tions, or if you are a dual-status alien, you can't take the standard deduction even if you were born before January 2, 1958, or are blind. CAUTION ! Standard Deduction Chart for Most People* Table 6. IF your filing status is... YOUR standard deduction is... Single or Married filing separately $12,950 Married filing jointly or Qualifying surviving spouse 25,900 Head of household 19,400 * Don't use this chart if you were born before January 2, 1958, or are blind, or if someone else can claim you (or your spouse if filing jointly) as a dependent. Use Table 7 or Table 8 instead. Page 24 Publication 501 (2022)