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Itemize |
Also found in: Dictionary/thesaurus | 0.01 sec. |
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To individually state each item or article. Frequently used in tax accounting, an itemized account or claim separately lists amounts that add up to the final sum of the total account on claim. |
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A compulsive itemizer, he stands in the temple before God, intent only on presenting his roster of good deeds. Interest attributable to a trade or business or to property held for the production of income may be deducted by itemizers and nonitemizers alike, but is subject to the various ancillary restrictions, such as those governing passive activity losses (Sec. From a planning perspective, if a taxpayer with a home mortgage balance already is unable to itemize or is a marginal itemizer, early payoff might provide a higher aftertax return than alternative investments. |
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