@lanthon1-hawk-ii wrote:
This is for 2021 and I took the standard deduction. Would it be more beneficial for me to itemize if this Certificates income is under $2,000?
You can only use itemized deduction if the total of all the itemized deductions is greater than the standard deduction for your filing status. For the property taxes paid you would only enter the amount that you paid with were not reimbursed, so it probably would not help you out by reducing your total income on the federal return.
Standard deductions for 2021
- Single - $12,550 add $1,700 if age 65 or older
- Married Filing Separately - $12,550 add $1,350 if age 65 or older
- Married Filing Jointly - $25,100 add $1,350 for each spouse age 65 or older
- Head of Household - $18,800 add $1,700 if age 65 or older
