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Itemized Deductions

New tax rules starting in 2018 substantially increase the standard deduction; as a result, most taxpayers will no longer benefit from choosing to itemize.

Itemized deductions include things like mortgage interest, property taxes, charitable donations, and medical expenses.  You get to choose whether to itemize or use the standard deduction. If your standard deduction is more than the total of your itemized deductions, you will use that to get the best refund.

Medical expenses are not fully deductible; the amount that’s deductible has to be over 7.5% of your adjusted gross income. In Ohio, the amount over 7.5% can be deducted on your Ohio tax return, even if you use the standard deduction on the Federal return.

In addition, starting with 2018 tax returns, the state and local tax deduction is capped at $10,000 if your filing status is Married Filing Jointly. Also, miscellaneous deductions that were subject to the 2% floor (i.e., unreimbursed work expenses, union dues) are no longer deductible at all.

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