We didn't itemize deductions for the last two years because they did not exceed our standard deduction. Can we itemize this year combining valid deductions (such as mortgage interest) for the past three years?
You can only itemize deductions that were paid in tax year 2007 if you are filing the 2007 tax return. Mortgage interest and real estate taxes are usually the expenses that put over the standard deduction threhold. Donations and Charity Gifts helps a little. If you purchased any big ticket items such as a car or boat or mobile home you can use the sales tax to increase the itemized amount plus taking the sales tax of your receipts or using the sales tax table. If you paid your own property taxes you may want to pay two years in the same tax year to help get over the standard deduction amount. Go to the IRS website and search Schedule A and Itemized Deductions for more info. Hope this helps.
