Which are the following is (are) true about the standard deduction and itemized deductions:

1. Only one can be used on the individual's tax return

2. Itemized deductions are used when you own a residence and standard deduction is used when you don't

3. On the same return, a husband can use a standard deduction and the wife can use itemized deductions

4. Both are subject to reduction when a cap is reached

		(1) only
		(1) and (2) only
		(1) and (4) only
		(2), (3) and (4) only