Do you itemize or take the standard deduction?
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Itemize or standard deduction
- Thread starter howl
- Start date
Interested to see if your survey matches the national average.
"The IRS data shows a clear trend: the higher a household’s income, the more likely it is to itemize deductions. Only 6.0 percent of tax returns with under $25,000 in income chose to itemize deductions. On the flip side, 93.5 percent of tax returns with over $200,000 in income were itemizers."
"The IRS data shows a clear trend: the higher a household’s income, the more likely it is to itemize deductions. Only 6.0 percent of tax returns with under $25,000 in income chose to itemize deductions. On the flip side, 93.5 percent of tax returns with over $200,000 in income were itemizers."
I suspect many use tax preparation services and end up with the standard anyway.
Both retired...nothing to itemize. Easy for now....
I do not have enough to itemize.
