Mark DeLouis
Has researched and developed The Tax Code Solution for over 100 million taxpayers
ONE PROVISION OF THE TAX CODE (ONE OF 32 PROVISIONS)
DEDUCTION SECTION
Provision 2-1: Standard Deduction
This single page is intended to provide all the information needed in one place only to comply with the Code’s Standard Deduction provision #2-1 and its corresponding Standard Deduction line #2-1 of the Return. The same format applies to each of the 32 provisions and their corresponding items of the Tax Return.
Most taxpayers would need to deal with only a few of the 32 Provisions when they file their returns.
A few worksheets will still be needed to identify, for example, sources of interest income, dividend income, itemized deductions (if chosen), etc.
When a portion of an income item is to be excluded, the total of that income item is included in the income section, while the excludable portion is included in the deduction section.
