Itemize or standard deduction question...

[SabreKiller]

I'm about to work on my taxes and trying to decide if its worth it to try an itemize. I'm adding up everything in advance and I don't believe my itemized deductions add up to more than the standard deduction. Isn't that how it works?

[Catfish270]

In a nutshell, yes.

[tvc184]

Yep.

In effect saying, the IRS assumes that you will have X number of dollars in deductions so to save you and us time, we are not requiring you to prove or show it up to that amount. I think this year is $12,000 for an individual.

If you think you have more, feel free to show the IRS those extra deductions and itemize.

[westtexducks]

Yep. I never have enough deductions to screw with itemizing. As you have to have more than that standard amount to be worth messing with.

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[bowhntrmatt]

Another yep. Never itemized here either. We file jointly and never have enough deductions to exceed the standard. Makes filing taxes pretty darn simple.

[Rick]

If you have more than the standard deduction, it is worth itemizing. Only you know that. If I thought it was close I would try and see.....

[Blitz]

We always itemize. But we have quite a bit in deductions when you factor in the mortgage and church contributions.

[joey1656]

Back before trump changed the table, we always would itemize. Now that the standard deduction is about 24k, we don't have enough deductions to mess with it.

[cva34]

Sounds like ya got 3 more months to make up mind...thx to con19

[dustoffer]

We always itemize. But we have quite a bit in deductions when you factor in the mortgage and church contributions.

Used to be this way for us but the house is paid off and church/charitable deductions won't beat the standard deduction for us.

[Blitz]

Used to be this way for us but the house is paid off and church/charitable deductions won't beat the standard deduction for us.

Ya. Once our house is paid off, we will be in the standard deduction boat as well. We still have some time before that happens however.

[hot_rod_eddie]

Back before trump changed the table, we always would itemize. Now that the standard deduction is about 24k, we don't have enough deductions to mess with it.

This here. I used to itemize every year until this.

[Paycheck]

Every year I put together all my deduction and it never adds up to enough. Now that I retired and house is payed off don't think I will bother next year gathering all the info. Unless standard deduction goes way down.