How much money do you need to make yearly to wherre it benefits you to itemize?

I'm not sure if it goes by your yearly income or by how much you can write off :puzz I was under the impression that if you buy uniforms, donate, ect. and it adds up to at least $1,000, then you can itemize those items; but if it adds up under that, then it isnt worth it. I could be totally wrong though, but let me call my mom and see what she says. She used to work for a tax agency, so she would know better than me. It also might depend on what state you are in :shrug

My mom said:

You have to be able to deduct a percentage of your income. You normally can not deduct anything unless you own a home. If you dont own a home and are not paying intrest then you cant do it. She says its an allowed percentage of your income, but she cant remember the amount, all she knows is its a large amount.

But she says that expenses from an employer is a completely different issue. Work expenses (laundry, uniforms....strictly work expenses) can be deducted as a seperate part of the tax return that allows you to deduct expenses for work. You cant deduct anything you get an allowance for (like uniforms that they give you money to buy).

she says if you want more info then log onto the IRS in whatever state you are in to look it up.

Ok, hope that helps! She was talking way too fast for me to type everything, but I think I got the jist of it. :)

I got this right off irs.gov


Should You Itemize?

IRS TAX TIP 2007-05


Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. Money paid for medical care, mortgage interest, taxes, charitable contributions, casualty losses, and miscellaneous deductions can reduce your taxes. If the total amount spent on those categories is more than the standard deduction, you can usually benefit by itemizing.

The standard deduction amounts are based on your filing status and are subject to inflation adjustments each year. For 2006, they are:

Single $5,150
Married Filing Jointly $10,300
Head of Household $7,550
Married Filing Separately $5,150

Some taxpayers have different standard deductions. The standard deduction is more for taxpayers age 65 or older and for those who are blind. It is generally less for those who can be claimed as a dependent on some other taxpayer’s return.


Limited itemized deductions. Your itemized deductions may be limited if your adjusted gross income is more than $150,500 or $75,250 for Married Filing Separately. This limit applies to all itemized deductions except medical and dental expenses, casualty and theft losses, gambling losses, and investment interest.


Stipulations for Married Filing Separately. When a married couple files separate returns and one spouse itemizes deductions, the other spouse must also itemize and cannot claim the standard deduction.


Some taxpayers are not eligible for the standard deduction. They include nonresident aliens, dual-status aliens, and individuals who file returns for periods of less than 12 months.


Forms to use. To itemize your deductions, use Form 1040, U.S. Individual Income Tax Return, and Schedule A, Itemized Deductions.

Links:


Publication 17, Your Federal Income Tax (PDF 2.3MB)
Instructions for Schedule A, Itemized Deductions (PDF 77K)