Let's say I'm single and have $9,000 in total itemizable deductions attributable to mortgage interest and real estate tax on my primary residence and charitable deductions. I do not have enough to itemize. Let's say I also have $18,000 in gross income for a property I rent out and $7,000 in allowable deductible expenses for that same rental property. Are my itemized deductions now $16,000, taking me over the $12,000 threshold? Or are rental expenses excluded from the itemized deductions calculation and reported elsewhere?
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