ERD50
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The only people I know who aren’t taking the standard deduction fall into two catagories:
1. They are extremely wealthy.
2. They bought their first house in my very housing cost area and thus are are paying outrageous amounts of interest on an outrageously large mortgage.
You might be surprised. It doesn’t take much when you add some mortgage interest, property tax, state taxes paid, some donations, maybe some medical. I’ve itemized for several years now and I don’t think I fall into 1 or 2.
Around here most single people with a mortgage can itemize. SALT is capped at $10K no matter your filing status, ....
So it seems the big disconnect is MFJ vs single. I've only filed MFJ for decades, so it never occurred to me that SALT isn't adjusted for MFJ vs Single. Very weird, if you ask me.
With SALT, exceeding the standard for MFJ would take a somewhat rare combo of charity/medical.
-ERD50