Problem $1-25$

The Standard Deduction $($LO $1\mathrm{.}7)$

Mark each statement below as either "True" or "False" regarding the standard deduction and itemized deductions.

ItemDescriptionAnswera.The standard deduction is an amount that varies with filing status.

TrueFalse

b$.$A taxpayer should claim the smaller of the standard deduction or the total allowed itemized deductions.

TrueFalse

c$.$Total itemized deductions depend on the amount and type of items, with some items having limitations based on AGI.

TrueFalse

d$.$Taxpayers who are $65$ years of age or older or blind are entitled to an additional itemized deduction amount.

TrueFalse