Average Itemized Deductions

(Data Based on 2001 Returns)

Based on IRS statistics, CCH editors have prepared a chart that shows the average amounts of itemized deductions claimed on 2001 federal tax returns. (IRS reports lag behind the current tax year because of the time needed to compile the figures.)

The IRS takes a dim view of taxpayers who base their claimed deductions on these averages. The numbers are useful, however, for two purposes: to see if your actual deduction is out of line (so you can take extra care to document it), and to see if deductions meet policymakers’ expectations.

Also, note these averages take into account only those individuals who claimed a deduction. Zero deductions are not factored in. Thus, the "average" taxpayer with adjusted gross income between $30,000 and $50,000 did not take an "average" medical expense deduction of $5,489, only the "average" taxpayer who itemized did. The percentages appearing in each category indicate the percentage of itemizers who took the deduction.

Adjusted Gross Income	Medical Expenses	Taxes	Interest	Contributions
$15,000 to $30,000	$5,616	$2,311	$6,406	$1,875
$30,000 to $50,000	$5,489	$3,052	$6,783	$1,906
$50,000 to $100,000	$5,532	$5,108	$8,330	$2,429
$100,000 to $200,000	$10,780	$9,713	$11,817	$3,761
$200,000 or more	$35,927	$38,931	$23,260	$17,842

SOURCE: CCH INCORPORATED, 2004
Permission for use granted

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