Schedule A for itemized deductions, now Schedule L too

Not since the direct deduction for some charitable contributions was removed has the standard deduction changed from its basic amount plus its additional amounts for the aged or blind.

In recent years, however, we’ve had three law changes that add to the standard deduction.

• The American Recovery and Reinvestment Act of 2009 added sales taxes paid on the purchase of a new car to the standard deduction.
• The Housing Act of 2008 added the property tax deduction for nonitemizers to the standard deduction.
• The Economic Stabilization Act of 2008 added a standard deduction for net disaster losses.

Of course, all these changes mean more forms to fill out and to review. Just as those who itemize their deductions have always been required to report those deductions on Schedule A, those who itemize their standard deductions will now be required to attach Schedule L, Standard Deduction for Certain Filers. This new Schedule L will be required from anyone who takes one or more of these three new add-ons to the standard deduction.