Friday, February 17, 2017

If you buy a house at the end of December, can you expect the standard deduction to be greater than itemized deductions for that tax year?


I am in this situation. When I did my taxes, the standard deduction ended being more than when I itemized my deductions., since my mortgage interest and real estate taxes weren't much since it was the end of December.

Does this sounds correct? I don't have any other deductions that are itemized other than state and local income taxes.

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