When filing taxes, Americans can claim a standard deduction or itemize certain expenses to lessen their taxable income. The standard deduction is a fixed amount that differs depending on whether someone is filing as an individual or as a married couple. The Tax Cuts and Jobs Act of 2017 nearly doubled the standard deduction until 2025.
The act also capped the amount of state and local taxes that filers could use in itemized deductions at $10,000. The 117th Congress is currently debating whether this state and local tax deduction cap should be repealed or increased. Here’s how Americans are using this deduction.
