The Bros are a loosely affiliated collective of super secret ninja assassins who prey upon BMC drinkers and elderly clowns. #8 LaneMeyer, Mar 9, 2012 Paul68 likes this.
You may not qualify for a full standard deduction if your parents can claim you as a dependent on their return. In that case, your standard deduction is limited to the greater of $1,000 or your earned income for the year plus $350, but not more than the regular standard deduction amount.
The standard deduction is a fixed amount that you can deduct without reporting any specific expenses; it is different for each of the filing statuses. For example, if you use the head of household status on your 2011 tax return, you can claim a deduction of $8,500. Therefore, when evaluating whether to itemize and claim a uniform deduction, you need to calculate your total itemized deductions and compare that amount to the standard deduction.