Should you itemize or take a standard deduction on your tax return? Here's what to know
When you're doing your taxes, it can sometimes be hard to know whether to itemize or take the standard deduction
By KATHERINE ROTH
Published - Apr 04, 2024, 09:57 AM ET
Last Updated - Apr 04, 2024, 09:57 AM EDT
NEW YORK (AP) — When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize.
According to tax pros, itemizing generally only makes sense if your itemized deductions, taken together, add up to more than the current standard deduction of $13,850 for a single filer and $27,700 for a married couple.
Here’s what you should know:
