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In 2018 until 2023, Americans filing a 1040 tax return must choose between the standard deduction and itemizing. Compare these deductions to see which saves you more money. The standard deduction is $12,000 for singles and $24,000 for married couples. If your itemized deductions are lower, stick with the standard deduction. Rules may change in the future, so stay informed to make the best decision for your tax return.