February 22, 2021
Everyone gets either a standard deduction or an itemized one.
Not sure which one you qualify for?
Well you may benefit by itemizing deductions if any of following apply to you:
Had large uninsured medical and dental expenses
Paid interest and taxes on their home
Had large uninsured casualty or theft losses
Made large contributions to qualified charities
If the sum of these is greater than the standard deduction, then you should itemize.
Disclaimer: For informational purposes only. Not Tax or Legal advice.
