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    CorrieBongiovi's Avatar
    CorrieBongiovi Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Jun 18, 2008, 11:03 PM
    Refund amount for standard deduction?
    1) What is the standard deduction amount?
    2) How much "more" (on top of my usual refund) would my tax refund be if I used the standard deduction amount for my personal (material) donations, and if I'm in the 28% tax bracket?
    Thanks.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jun 19, 2008, 12:45 AM
    For 2007, the standard deduction is $5,350 for individual.
    Charity or donation deduction is available only as itemized deduction. If you itemize your deductions, you will not get the standard deduction. That is you will itemize only when your deductions are more than the standard deduction.
    Read this:
    Your U.S. Tax Return: Itemized Deductions
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