Obsessive-compulsive disorder is an anxiety disorder characterized by unwanted thoughts and repetitive, ritualized behaviors you feel compelled to perform. If you have OCD, you probably recognize that your obsessions and compulsions are irrationalâbut even so, you feel unable to resist them and break free.
Itemized deductions allow taxpayers to reduce their taxable income based on specific personal expenses. If the total itemized deductions are greater than the standard deduction, it will result in a lower taxable. income and lower tax. In general, taxpayers benefit from itemizing deductions if they have mortgage inter-.
ing this lesson on standard deductions and the Itemized Deductions lesson, you will be able to subtract the. appropriate deduction from the taxpayersâ adjusted gross income to figure their taxable income. Some taxpayers may need to use the standard deduction worksheet in the. Form 1040 Instructions. Objectives. At the end of this lesson, using your resource materials, you will be able to: â¢ Determine the standard deduction amount for most taxpayers. â¢ Determine the standard deduction amount for taxpayers claimed as.