When filing their Federal income tax returns,the Youngs always claimed the standard deduction.After they purchased a home,however,they started to itemize their deductions from AGI.
a.Explain the reason for the change.
b.
Suppose they purchased the home in November 2014,but did not start itemizing until tax year 2015.Why the delay as to itemizing?

Question

When filing their Federal income tax returns,the Youngs always claimed the standard deduction.After they purchased a home,however,they started to itemize their deductions from AGI.
a.Explain the reason for the change.
b.​
Suppose they purchased the home in November 2014,but did not start itemizing until tax year 2015.Why the delay as to itemizing?

Quizplus · Accepted Answer

The Answer of When filing their Federal income tax returns,the Youngs always claimed the standard deduction.After they purchased a home,however,they started to itemize their deductions from AGI.
a.Explain the reason for the change.
b.​
Suppose they purchased the home in November 2014,but did not start itemizing until tax year 2015.Why the delay as to itemizing?

When Filing Their Federal Income Tax Returns,the Youngs Always Claimed