what can i deduct if i take the standard deduction 
you can claim above the line deductions including retirement plan contributions health savings account hsa contributions alimony educator expenses student loan interest and health insurance premiums for individual health insurance policies if you are self employed 161718192021the bottom linethe standard deduction is a fixed dollar amount that taxpayers can subtract from their adjusted gross income to reduce their taxable income it s available to taxpayers who do not itemize deductions and the amount you get to deduct varies depending on filing status and other factors 