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Replies to #494 on Taxes (TAX)

ypsiCPA

12/31/10 1:18 PM

#495 RE: cintrix #494

Standard deduction has risen since 2002, so more people would use. Allowing up to $1000 of real estate taxes to be taken as additional standard deduction tipped many seniors from itemized to standard.

Most of my clients take standard deduction, but most of my time is spent on those who itemize (they seem more likely to have other stuff going on, like stock trading and rental properties).