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Investors & landlords
The standard deduction uses a big lump sum to adjust your taxes due. No specifics.
Itemized deductions are specific and targeted. And if you have an investment interest expense on your itemized deduction list then that is used in the calculation of the NIIT. So when you switch to the itemized deductions the NIIT calculation is different and that may reduce your tax bill.
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‎April 17, 2025
10:09 AM