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Standard or Itemized Deductions for Taxpayers
Paul S Schuster district director of the Internal Revenue Service for Southern Ohio explains that taxpayers must choose between standard and itemized deductions. Homeowners with mortgage interest and taxes, large contributions, medical expenses, or casualty losses may benefit from itemizing, while if itemized deductions are less than the 10 percent or minimum standard deduction, the standard deduction is better. Married couples must file the same type of deduction. Document No 5107 offers more details and is available from the local Internal Revenue Office.
MENTIONED IN THIS ARTICLE
Schuster
Internal Revenue Office