For anyone with an eye on the bottom line, the details matter. When it comes to taxes, how you file can have a direct effect on the size of your return. That’s why taxpayers should explore what’s right for them when it comes to itemizing tax deductions.
Deductions lower the amount of your taxable income, which can mean getting more back from your tax return. There are two options for how you can take deductions.
You can either:
- Take the standard deduction. This option reduces your taxable income with a fixed amount based on your filing status — for example, whether you filing as single or married filing jointly.
- Itemize your tax deductions. This method lets you lower your taxable income by deducting a list of eligible expenses on a 1040 with Schedule A.
Which way leads to a larger return? That depends on which is higher: the total of your itemized deductions or the amount of the standard deduction. If you don’t own a home and you’re not claiming large allowable expenses, a standard deduction usually results in a better tax outcome.
Want to dig deeper? Review when you should claim itemized deductions.
Itemize Your Tax Deductions and File Your Taxes for Free
As a smart consumer, you know the bottom line is not just about what you get back, but also the value you receive. That’s why we offer More Zero from H&R Block. By filing online with us before the end of March, you can complete your free tax filing and at the same time take advantage of claiming itemized deductions.
More Value With More Zero
More Zero lets you file your federal and state 1040EZ, 1040 A or 1040 with Schedule A completely free. When you file with H&R Block Online, you can rest assured that your taxes will be done right. Not only can you rely on more than 60 years of tax expertise, your return is backed by our guarantee for 100% accuracy and you’ll always get your maximum refund.
Getting started with More Zero is simple even if you used a different tax filing provider in the past. You can upload a PDF of last year’s return with an easy-to-use drag and drop feature. You can also import a picture of your W-2 using your smart device. We’ll walk you through the rest.
Free Filing for a Limited Time
To take advantage of free tax filing with More Zero, remember to file your taxes with H&R Block Online before March 31, 2018.