|
How Your Itemized Deductions Compare To Other Filers
Wonder how your itemized deductions compare with those of other filers? This table of averages compares several key write-offs claimed by filers at various income levels, using IRS preliminary data from 2009 returns.
|
Adjusted Gross Income |
Taxable Income |
Interest Expense |
Taxes Paid Deduction |
Charity |
Medical Expenses Deducted |
Total Itemized Deductions | |
Under $15,000 |
$2,739 |
$8,838 |
$3,337 |
$1,496 |
$8,414 |
$16,164 | |
$15,000 - $29,999 |
9,279 |
8,434 |
3,184 |
2,048 |
7,783 |
15,608 | |
$30,000 - $49,999 |
21,428 |
8,699 |
3,943 |
2,274 |
7,028 |
16,404 | |
$50,000 - $99,999 |
46,401 |
10,133 |
6,247 |
2,775 |
7,269 |
20,350 | |
$100,000 - $199,999 |
97,042 |
13,456 |
11,069 |
3,888 |
9,269 |
28,952 | |
$200,000 - $249,999 |
171,938 |
17,572 |
18,524 |
5,947 |
21,599 |
41,595 | |
$250,000 and Above |
555,769 |
25,527 |
48,317 |
18,488 |
38,149 |
89,432 |
Things to keep in mind about this data: The last column of the table includes miscellaneous itemizations, casualty and theft losses, and the reduction for a portion of itemized deductions claimed by upper-incomers. And if the averages for taxes paid seem low, that's because they also include taxpayers who elect to deduct state sales tax, since the state they live in doesn't have an income tax. Note that the averages do include personal property taxes and real estate taxes.
Be careful when interpreting average deductions for medical expenses. Only expenses that exceed 7 ½% of AGI are deductible, so relatively few taxpayers end up taking this write-off. The figures above are the averages for those filers only.
You won't automatically be audited for having above average deductions. The IRS knows that people living in states with high individual income tax rates claim larger state tax deductions than those in states with low tax rates or no tax and the agency matches mortgage interest deductions with 1098 forms from lenders. But if your deductions are disproportionately large when compared with your income, your audit risk can go up because that's a key factor in the IRS's return selection formulas.
|
