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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 significant change for 2004 and 2005 returns only is a new choice for taxpayers to deduct state/local sales taxes for the year in lieu of state and local income tax if one itemizes deductions. The rule is that if one itemizes, the other has to. If a married taxpayer who files as a head of household itemizes deductions, may the taxpayer's spouse claim the full standard deduction for married taxpayers filing separately? |
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