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Mark Kohler discusses standard deduction versus itemizing on a 1040 tax return, emphasizing the importance of understanding the rules that have changed from 2018 to 2023. It is recommended to compare your itemized deductions against the standard deduction and choose the higher amount to save on taxes. For singles, the standard deduction is $12,000 and for married couples, it is $24,000. It is essential to be aware of the rules to determine the best deduction method for your tax return.