01-27-2004, 09:27 AM
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#5
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captain awesome
Join Date: Jan 2003
Posts: 7,054
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Quote:
Originally posted by Jeffbx
If you have no dependents, no real estate and hopefully no high medical bills, you're probably going to be better off taking the standard deduction. You typically have to have a high amount of deductions (thousands of dollars worth) before it makes more sense to itemize. I think most people begin to itemize when they buy a house & suddenly have a ton of interest expense - I know that's what did it for me.
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