Question

What is the standard deduction used for?
a.
The standard deduction is the minimum size a deduction can be to be counted.
b.
The standard deduction is claimed automatically, before other deductions are calculated.
c.
The standard deduction is the minimum deduction that anyone may claim.
d.
The standard deduction is the maximum allowable deduction.


Please select the best answer from the choices provided

A
B
C
D

Answer 1

B

The standard deduction is a set dollar amount taxpayers can claim (typically taken automatically if you don't itemize) to reduce taxable income.