Correct, you can either itemize or use the standard deduction on you federal taxes. With the now higher standard deduction and the $10k limit on state/property taxes it's more likely than before that the standard deduction is preferable.
Quote from: terran on February 10, 2019, 04:45:56 PMCorrect, you can either itemize or use the standard deduction on you federal taxes. With the now higher standard deduction and the $10k limit on state/property taxes it's more likely than before that the standard deduction is preferable. It depends on the state's standard deduction amount and whether they don't follow the same rules as federal. It could still be advantageous to force it to itemize by paying a little bit more in federal taxes and save more in state taxes. I would see a professional if you think this is something that might apply to you.