What’s a good standard deduction amount to itemize without Uncle Sam coming after me. Single, and tryna phase out of the 12k standard deduction w/o red flags!

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I usually itemize the $40,000 standard deduction. That’s usually da best

likefunny

This question does not make sense. The standard deduction is set. Nothing to phase out. And you can’t “itemize” a standard deduction. You either take the standard deduction or you itemize

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You can’t arbitrarily pick a number to itemize. Whether or not the IRS catches you that’s fraud. I really hope you don’t prepare tax returns.

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This question makes me so nervous for you. Tax fraud is a federal crime. Be honest on your taxes, the extra thousand you’d get isn’t worth time in a federal prison

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As long as you have legitimate items to itemize, there should be no red flags

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K cool. I’ll just do the right thing and take no risk then. Thanks guys!

likesmart

Please tell me you’re not in tax

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In addition to the above, please tell me you aren’t a cpa asking this question

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Wtf is this lol

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Also — a CPA at a global firm can’t give the excuse that you didn’t know you had to keep the records if you do get audited. And the fraud penalty is 75% of underpayment plus substantial understatement/negligence is 20%. Oh, and you might lose your ability to practice before the IRS and be reprimanded by your BOA. This is probably the dumbest question I’ve ever seen on this platform

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Don’t do this. The only way you’re going to get around this is if you paid a lot of state income taxes and push medical and charitable contributions above realistic numbers. I used to to IRS audits and you’d be surprised at the amount of information the IRS has and throw large numbers into medical expenses as a fully employed person with a global firm it going to raise a flag. If you’re not making a ton of money, throwing a substantial amount down into charitable contributions will also raise more flags. Benefit is not worth the risk and penalties

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