Any requirement to claim itemized deductions?

"The first 20% of itemized deductions were deductible."

So if the $50,000 deduction were $10,000, the first 20% of the $10,000 (=$2,000) would have been deductible. Therefore, the _last_ $40,000 of the $50,000 led to the other $8,000 of deductions.

Seth

Reply to
Seth
Loading thread data ...

which means that the last 80% got no deduction - thus no recovery in income.

Reply to
D. Stussy

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.