Winona’s filing status head of the house hold. she can deduct $4,359 in mortgage intrest and real estate tax,?
by Mortgage Rates on Tuesday, October 5th, 2010 | 3 Comments
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You can do the arithmetic to ttotal the deductions.
The Std. Deduction for HOH for 2008 was $8000. So whioch is better. Again, you decide.
if she has a high income she wants to itemize cause the standard phases out also depends on if she is married, has kids and numerious other things
Keep a couple things in mind when you figure this. For 2008 and 2009 there was a standard deduction for property taxes for those who do not itemize and if you deduct your state and local taxes on your schedule A then some or all of your state refund will be taxable next year.