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TAXES!!!!
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 680776" data-attributes="member: 12570"><p>You are right if these are the only deductions that you have but most of us have mortgage interest, pay property taxes, give money to charities, have unreimbursed medical expenses, may have made a large purchase which would qualify for the sales tax deduction, may be paying college tuition or may have student loan interest, etc., when combined does make it worthwhile to itemize. My itemized deductions were around $14K so it was to my benefit to take the itemized deduction over the standard deduction.</p><p> </p><p>That is the beauty behind the tax software--it guides you through an interview process to see which option would be best for your tax situation and to see if you have enough deductions to itemize or if the standard would be better for you--and it doesn't take that long.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 680776, member: 12570"] You are right if these are the only deductions that you have but most of us have mortgage interest, pay property taxes, give money to charities, have unreimbursed medical expenses, may have made a large purchase which would qualify for the sales tax deduction, may be paying college tuition or may have student loan interest, etc., when combined does make it worthwhile to itemize. My itemized deductions were around $14K so it was to my benefit to take the itemized deduction over the standard deduction. That is the beauty behind the tax software--it guides you through an interview process to see which option would be best for your tax situation and to see if you have enough deductions to itemize or if the standard would be better for you--and it doesn't take that long. [/QUOTE]
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