You can take either the standard deduction or you can itemize your tax-deductible expenses.
The standard deduction for 2020 depends on your marital status, as follows:
|Filing status||Standard deduction|
|Head of Household||$18,650|
|Married filing joint or
|Married filing separate||$12,400|
Additional standard deduction
You are also allowed an additional standard deduction amount if you and/or your spouse is 65 or older or blind. Contact our Customer Service Representative to discuss your individual situation to determine your exact amount of additional standard deduction.