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To: grey_whiskers

>>The state and local deduction only gains importance, IF the standard deduction remains the same. Reports are that the standard deduction for a couple is going up to $24,000/yr.<<

Only 18% of all taxpayers itemize.

They need to bring some itemization in addition to the standard deduction. It used to be Mortgage Interest and charitable contributions lowered AGI (but I admit that was a LONG time ago).


42 posted on 10/23/2017 7:42:54 AM PDT by freedumb2003 (Every Californian who supported "sanctuary state" has blood and ashes on his/her hands)
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To: freedumb2003
Only 18% of all taxpayers itemize.

It's actually twice that overall, and higher than 36% in some states. Of course the higher your income the more likely you are to itemize.

But regardless of whether it's 18% or 36%, I'm one who does and based on what's being discussed my taxes are headed up.

51 posted on 10/23/2017 7:58:53 AM PDT by DoodleDawg
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