Can Form 8854 Deductions 2023-2024

Music, um, Demetri Sandiego. Hey guys, hey Joe. Where can I get federal and California state tax forms? Can I take the standard deduction on federal forms and itemize on California state forms? So that's interesting, and I want to talk a little bit about that, okay? Because there's the new tax reform and then it's like, alright, well, Demetri is thinking maybe I filed a standard deduction because I have certain deductions that I had last year that I won't be able to deal on the federal return. But wait a minute, what does California do? Does that conform with the same as federal tax? Yeah, it's a great question, and the first one, really quickly, all you have to do is type in IRS tax forms California tax forms, and you'll find the sites. You can get to any form you want. A lot of the 2018 forms are already out, but not all of them, so some of those will come later. But the second question may be a little deeper question is itemizing. And so, just to maybe a little background Joe. So an itemized deduction is otherwise personal expenses that the IRS allows you to deduct against your income. So you pay taxes on taxable income after those deductions, and it's typically state taxes, property taxes, mortgage interest, charity, things like that. And so you add all those together and then you'd compare your total against what's called the standard deduction, and you get to deduct the higher of the two. This year, with the new tax act, the standard deduction is much higher. It's about twice as much as it was the year before. And so what's happening is then a lot of people that used to itemize on the federal return because their...