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Old 01-10-2012, 03:21 PM
 
Location: Fram
87 posts, read 104,475 times
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I just got my W-4s today, and did a little calculating on my returns.

Question: The state and Philly city taxes are deductible, correct? But if my combined total itemized deduction is less than the Standard Deduction ($5800 for Single), then it doesn't matter, I will be using the Standard, correct?
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Old 01-10-2012, 08:19 PM
 
Location: Montco PA
2,214 posts, read 5,094,681 times
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Yes, state and city taxes on your W-2 (not your W-4) are deductible, but if total itemized deductions are less than the standard you use the standard. Other common itemized deductions include mortgage interest, real estate taxes, and charitable contributions.
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