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Unlike the standard deduction, itemized deductions result in different taxable income amounts from person to person. Those who qualify for the standard deduction have the leeway to choose the itemized route; however, individuals who are not eligible for the standard deduction can only itemize their tax deductions.
1 Choose the best method. 2  Compare your itemized and standard deduction amounts. 3  You should file using the method with the larger amount. 4  File the right forms. 5  To itemize your deductions, use Form 1040, and Schedule A, Itemized Deductions. 6  You can take the standard deduction on Forms 1040, 1040A or 1040EZ.