I guess aaslongas you itemized deduction is larger than your std deduction then it might be. If you want to save on your taxes, you should take the biggest deductions you can. Most people take the standard deduction, unless itemizing deductions will give them a larger tax break; Though I suppose it's theoretically possible that you could receive same refund amount , it's extremely unlikely;
,however, your itemized deductions might total less than your standard deduction. If so, you can still itemize deductions on Sch A of 1040 rather than claim the standard deduction. You might want to do this if you?d pay less tax. This can happen if you itemize on your state return and get a larger tax benefit than you would if you claimed the standard deduction on your federal return. |