Before the SALT cap of $10K, it could easily matter. Prior to the cap, I itemized deductions every year - easy if you have a mortgage, live in a high income tax state, and both spouses work. In those days the standard deduction was $12K, and just our state taxes exceeded that amount - forget about mortgage + charity.
Even after the SALT cap, on some years itemizing was better.
And I believe as of next year (or the one after?), the SALT cap is going up significantly. Back to itemizing every year.
Even after the SALT cap, on some years itemizing was better.
And I believe as of next year (or the one after?), the SALT cap is going up significantly. Back to itemizing every year.