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If you itemize your deductions this year, are you able to use standard deduction next year?
I heard that once you itemize your deductions. You are not able to use standard deduction again.
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If you itemize your deductions this year, are you able to use standard deduction next year?
You heard wrong. You can go back an forth as you please. Many people do just that and double up deductible payments ever other year to maximize deductions for itemizing.
**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.**
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If you itemize your deductions this year, are you able to use standard deduction next year?
You heard wrong. You can go back an forth as you please. Many people do just that and double up deductible payments ever other year to maximize deductions for itemizing.
**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.**
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