CasualtyAndTheftLosses

    By Kelly Phillips Erb

    | 2:15PM 1/22/2010
    Each year, taxpayers have the option of claiming the standard deduction or the itemized deduction. For the tax year 2009, the standard deduction for single taxpayers or for those married filing separately is $5,700; for married taxpayers or qualifying widow(er)s, the standard deduction is $11,400;...