Itemizing is entering all your deductions separately rather than taking the standard deduction. That will result in a tax savings for the very few taxpayers that have deduction more than the standard deduction - most taxpayer do not.
It does no good unless itemized deductions exceed standard.
2020 standard deductions
$12,400 Single
$18,650 Head of Household
$24,800 Married Jointly
Add an additional $1,300 for over age 65 or blind
This amount increases to $1,650 if the taxpayer is also unmarried.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
