by Jason Wlaters, Victor Rehula
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Product Description Between 1990 and 2001, the number of tax returns claiming itemized deductions increased by 38.5 percent, whereas the total number of tax returns increased by only 14.2 percent. Thus, the share of taxpayers itemizing their deductions increased by 21.3 percent, rising from 28.5 percent of all taxpayers in 1990 to 34.6 percent for 2001. The total amount of itemized deductions before limitations (in constant dollars) increased at an average annual rate of 3.6 percent between 1990 and 2001. Between 1991 and 1994, the annual changes were relatively small, ranging from a decrease of 1.7 percent to an increase of 0.4 percent. The increases were much larger between 1995 and 2000, ranging from a low of 4.1 percent for 1995 to as high as 8.1 percent for 1999 and 7.6 percent for 2000. For 2001, the increase was 3.5 percent. Interest paid has been the largest itemized deduction taken by individual taxpayers from 1990 to 2001, with home mortgage interest comprising between 90 percent and 95 percent of the total interest paid. Taxes paid, the second largest itemized deduction, had the largest positive percentage change and the highest frequency of itemized deductions over the period. [PUBLICATION ABSTRACT]
This digital document is an article from Statistics of Income, most recently published by Superintendent of Documents, Statistics Division on March 31, 2004. The length of the article is 1644 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details Title: Selected Itemized Deductions, Schedule A, 1990-2001 Author: Victor Rehula Publication: Statistics of Income (Feature) Date: March 31, 2004 Publisher: Superintendent of Documents, Statistics Division Volume: 23 Issue: 3 Page: 95-99
Distributed by ProQuest Information and Learning

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