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14 October, 08:17

Which factors affect your choice between claiming itemized deductions and the standard deduction?

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  1. 14 October, 09:14
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    The factors which affect one's choice between claiming itemized or standard deductions include the following: home ownership, ease and simplicity of filling the necessary forms, all through the year record keeping in order to accurately document itemized deductions and planned bunching of deductions. Most people itemize the deductions they can claim and if it makes their tax payments less than the standard payment, then they opt for the itemized deduction.
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