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  Standard and Itemized Deductions
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Topic Summary

This topic has introduced the following changes affecting deductions:

  • The amount taxpayers can deduct for each exemption has increased from $3,400 to $3,500

  • The standard deduction is higher in 2008 than in 2007

  • The standard mileage rate for use of a personal vehicle to get medical care is 19 cents a mile from 1/1/08 - 6/30/08 and 27 cents a mile from 7/1/08 - 12/31/08

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