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Standard Deduction or Itemize

Uncategorized / By Joy Cooper

Lower mortgage rates in 2020 & 2021 plus the limitation on state and local taxes made it better for some homeowners to take the standard deduction.

Learn more at https://betterhomeowners.com/…/Compare-to-Determine…

May be an image of text that says 'Standard Deduction or Itemize? Tax professionals suggest you compare each both sanrd and itemized deduction determine which more beneficial you. Qualified interest maximum mortgage allowed. Real estate property taxes subject SALT interest mortgage improve property. buyd fees buy, build office expense expenses excess of7.5% limitations. disaster subjectto Standard Deduction Filling Status Married Jointly Single/Married Filing Separately Househod $25,900 $12,950 $19,400 2023 $27,700 $13,850 $20,800 Additiona mounts each each Seniors 50 $1,750 Dr Sor HoH. $1,850 each HOH. List and totalyour total itemized deductions to compare with your allowed standard deduction to see which isgreater. information professional publication 529 BetterHomeowners.com'

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