Itemize or standard?
by Mortgage Rates on Saturday, November 20th, 2010 | 4 Comments
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If you *know* you can’t itemize, don’t enter the schedule A stuff.
Congress made the laws for deductions on your taxes. They allow everyone a standard deduction. You only itemize if your expenses are greater than the standard deduction.
If you’re not going to itemize then don’t bother to fill out schedule A. You may need to fill out B if your interest is over a certain amount. And some states require you to fill out the schedule A even if you don’t qualify or are going to itemize. You need to fill out the proper forms that work best for you or are required for your situation.
if itemized amounts are less than standard deduction, obviously take the standard, and throw away the schedule A as you don’t have to file it