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SmartAsset on MSNAverage Itemized Deductions in Some States Reach Over $50k. Are You Getting the Most Out of Your Tax Return?For example, a household can deduct student loan interest payments from their taxes while also taking the standard deduction.
But for some taxpayers, it is still worth exploring the potential of itemized deductions, as overlooking it in favor of simplicity could "leave a significant amount of money on the table for Uncle ...
itemized deduction to decide which approach ... might be lower than the amount you could deduct if you itemize. For example, the standard deduction might be less than the total amount of mortgage ...
For example, if your AGI was $85,000 in 2024 and ... You can claim the standard deduction even if you have no expenses that qualify as itemized deductions. You don’t need to keep records of ...
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