Wonder how your itemized deductions compare with those of other filers? Check the averages in this table. It compares several key write-offs claimed by filers at various income levels, using data compiled by IRS from 2008 returns.
|
Adjusted Gross Income |
Taxable Income |
Interest Expense |
State and Local Taxes |
Charity |
Medical Expenses Deducted |
Total Itemized Deductions |
|
Under $15,000 |
$2,902 |
$9,607 |
$797 |
$1,341 |
$7,931 |
$15,741 |
|
$15,000-$30,000 |
9,618 |
9,245 |
1,032 |
2,024 |
7,074 |
15,669 |
|
$30,000-$50,000 |
22,161 |
9,055 |
1,653 |
2,190 |
6,153 |
16,258 |
|
$50,000-$100,000 |
46,813 |
10,659 |
3,162 |
2,693 |
7,102 |
20,569 |
|
$100,000-$200,000 |
97,190 |
13,734 |
6,357 |
3,758 |
9,269 |
28,923 |
|
$200,000-$250,000 |
171,947 |
18,570 |
11,804 |
5,895 |
21,554 |
42,471 |
|
$250,000 & above |
624,579 |
27,865 |
40,151 |
20,930 |
37,143 |
96,458 |
Some things to keep in mind about the 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 state and local taxes seem low, that’s because they include taxpayers who elect to deduct state sales tax because the state they live in doesn’t have an income tax. Be careful when interpreting average deductions for medical expenses. Only expenses that exceed 7½% of AGI are deductible, so relatively few taxpayers get to claim the write-off. The figures above are the averages for those filers only. You won’t automatically be audited for having above average deductions. The Service knows that people living in states with high individual income tax rates claim larger state tax deductions than folks in states with a low tax rate or no tax. And the IRS matches mortgage interest deductions with 1098 forms from lenders.