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Deductions & credits
It may be that the total of your itemized deductions is more than the allowable itemized deductions. For instance, you can only deduct $10,000 of state income/property taxes as itemized deductions on your federal return. Also, medical expenses are only deductible to the extent they are over 7.5 percent of your adjusted gross income.
So, it may be that your allowable itemized deductions are less than your standard deduction, but your total itemized deductions are more.
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March 15, 2021
3:46 PM