Standard vs Itemized deductions

[dj21108]

I am working on my taxes, and since the Standard Deduction was increased, the way it usually works out,

is I get more back from Federal if I use the standard deduction, but more back from State if I itemize.

Last year the difference once you add state and federal refunds together was minimal, so I used the Standard deduction.  This year, overall I will get about $400 more back total if I itemize; Even though I get back less from Federal, I get that much more back from my state tax returns.  But, if I take into account that next year some of the state taxes that were deducted in the itemization will then be taxed next year, the difference goes down to about $50.    Should I still itemize?  Is there anything I am not thinking of that I should also take into account?

[HopeS]

The decision to itemize or take the standard deduction typically depends on which method gives you the higher deduction and hence more refund.  Claiming the standard deduction is easier since to itemize you need to keep track of your deductible expenses.

You are correct you will need to add back your state refund if you itemize on your 2023 tax return.

The IRS limits your state and local tax deduction to $10,000. Therefore, you can review your deduction to see if you claim sales tax, personal property tax, real estate, and state and local tax in your deduction if it is less than $10K.

Also, revisit your charitable contributions to make sure you are maximizing your cash and noncash contributions.

See additional information in the link below:

Standard vs Itemized Deductions

@dj21108