How do I itemize my house taxes and interest every other year?

Question

When I do my taxes the amount I itemize is always less than the standard deduction. I was told I should itemize every other year so my itemizing will be more than the standard deduction. How do I go about doing that?

Answer 1

You can't. You can only deduct what you paid IN THAT YEAR on that year's tax return. You can't "save" up deductions from previous years and use them later. They must be used only in the year in which they were paid.

Just use the standard deduction if it's a better deal.

Answer 2

You can only deduct what you actually paid in the year you are claiming it for. But if you pay your real estate taxes in December for every other year, and January for the off-years, then you'd bunch up your deductions.

For interest, it's a lot tougher, but making your January 1 payment early, in December, could give you 13 payments in the year.

Answer 3

You can't carry over the house taxes (property taxes) and the interest to next year. You can hold on to your charity givings for every other year and see whether it makes any difference. Again, if already donated something you can't carry over it. Check whether you can gain any additional deductions by using this calculator.
http://findtaxservice.com/taxcalculator/mortgage-taxsavings-calculator.html

Answer 4

if you had talked to a tax expert then there is a way for you to itemize every other year. Dont listen to the two previous posts they obviously arent tax experts. One way and the most easiest is if you donate or contribute to charity. Instead of contributing this year save it up and contribute two years worth in one year. I know that there are other ways, but there is no way of telling you how since you really need to sit down with a good tax lawyer or EA and does some tax planning for you.

Answer 5

Someone is messing with you or just plain stupid!! You don't have to itemize to claim your interest and taxes! You claim them every year! You can't add to years together and then say you are over the standard deduction! FIND A LIGITIMATE PERSON TO DO YOUR TAXES, THE PERSON YOU'VE BEEN TALKING TO IS AN IDIOT!