Standard versus Itemized deductions. You are a married filing jointly and a homeowner with a mortgage interest
Fantastic news! We've Found the answer you've been seeking!
Question:
Standard versus Itemized deductions. You are a married filing jointly and a homeowner with a mortgage interest of $25,500, Property taxes of $16,300, $8050 for state tax, charitable contributions of $33,000. According to your filing status, a standard deduction of $25,100 is allowed. You also live in NJ, so SALT will affect you... if you choose to itemize your taxes. What amount should you deduct on your taxes (using either the Itemized or the Standard deduction amount)?
Related Book For
South Western Federal Taxation 2014 Comprehensive Volume
ISBN: 9781285180922
37th edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
Posted Date: