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CCH can assist you with stories, including interviews with CCH subject experts.
Also, the 2006 CCH Whole Ball of Tax is available in print. Please
contact:
Leslie Bonacum
(847) 267-7153
mediahelp@cch.com
Neil Allen
(847) 267-2179
neil.allen@wolterskluwer.com
Link to special CCH Tax Briefings on key topics from 2005:
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2006 CCH Whole Ball of Tax
Average Itemized Deductions
(Data Based on Preliminary 2003
IRS Statistics)
The following
are preliminary figures released by the IRS (their reports lag behind the
current tax year because of the time needed to compile figures). These
are averages only. The IRS takes a dim view of taxpayers who base their
claimed deductions on these figures.
The numbers
are useful, however, for two purposes: (1) to see if your actual deduction
is out of line (so you can take extra care to document your claim) and
(2) to see if the deductions meet the expectations of policymakers.
Also,
note that these averages take into account only those individuals who claimed
an itemized deduction for that type of expense. 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 $5,355, only the “average” taxpayer who itemized did.
Adjusted Gross Income
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Medical Expenses
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Taxes
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Interest
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Charitable
Contributions
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$15,000 to $30,000
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$6,382
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$2,442
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$6,844
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$2,020
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$30,000 to $50,000
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$5,355
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$3,332
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$6,979
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$2,066
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$50,000 to $100,000
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$5,651
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$5,464
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$8,448
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$2,666
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$100,000 to $200,000
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$10,515
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$10,042
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$11,350
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$4,000
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$200,000 or more
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$25,719
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$36,354
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$20,381
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$18,011
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SOURCE: CCH, 2006
Permission for use granted
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nb-06-23
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