This lesson is designed to teach VITA/TCE tax preparers about standard and itemized deductions, including which expenses taxpayers can include in their itemized deductions. The lesson also explains how to calculate taxable income.

Forms referenced in this lesson include:

• Forms 1040EZ, 1040A, and 1040
• Standard Deduction Worksheet
• Form 1040 Schedule A, Itemized Deductions
• Qualified Dividends and Capital Gain Tax Worksheet
• Form 1098, Mortgage Interest Statement

You can also refer to Publication 4012, Volunteer Resource Guide for helpful tips on interviewing taxpayers.

NOTE: In this lesson, you'll be asked to calculate answers for practice questions. You may want to have a calculator on hand for assistance.