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Thread: standard deductions for SE

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    God/dess anomar's Avatar
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    Default standard deductions for SE

    Hey y'all,
    I saved my receipts from last year for my deductibles. However, I don't think that the amount they total is greater than ~$1800 (I think that's the standard deduction, somewhere around there?). Is it worth it to itemize my receipts?

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    God/dess anomar's Avatar
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    Default Re: standard deductions for SE

    Oh, hai, I did not think about my health insurance deductions 'n stuff. Neeever mind!

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    Veteran Member Robertjordan's Avatar
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    Default Re: standard deductions for SE

    The standard deduction for a single filer is $5,350. For married filing joint its $10,700. Plus, medical deductions are only deductible as itemized expenses to the extent that they exceed 7.5% of your AGI.

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    Banned Katrine's Avatar
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    Default Re: standard deductions for SE

    However you can deduct various medical premiums and expenses from your Business Income!

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