2009- Property tax deduction for non-itemizers
Posted Nov 2, 2009 @ 3:53 pm, Viewed by 185 Visitors, Read 189 Times.
Homeowners who don’t have enough deductions to make it worthwhile to file an itemized return can take an additional standard deduction for the amount of property taxes they have paid, up to $500 for single filers or $1,000 for joint return filers. This tax change is in effect for 2009 returns, but it's fate for next year is uncertain. This option especially benefits older homeowners and others who have paid off or paid down their mortgage and no longer have the big interest deductions that usually are the major reason for itemizing. © 2009, Real Estate Information Services, Capitol Assets, Choice Real Estate, Inc.
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