Average Itemized Deductions

The IRS Statistics of Income Division has just released the latest average itemized deductions data taken from 2003 Individual income tax returns. Itemized deductions were claimed on 34% of returns filed for the 2003 tax year. The average total claimed for itemized deductins for all 2003 itemizers was $20,076 which was a 4.1% increase over the average of $19,293 for 2002.

The figures in the table below are merely averages. Only amounts actually paid for itemized deductions may be claimed on a tax return.

2003 Average Deductions Claimed Based on Adjusted Gross Income

Adjusted Gross Income in Thousands of Dollars

AGI	$0-15	$15-30	$30-50	$50-100	$100-200	$200 & Up
Medical	7,818	6,382	5,355	5,651	10,515	25,719
Taxes	2,459	2,442	3,332	5,464	10,042	36,354
Contributions	1,443	2,020	2,066	2,666	4,000	18,011
Interest	6,834	6,844	6,979	8,448	11,350	20,381
Total	13,138	12,775	13,648	17,432	25,902	64,835

Percent of filers itemizing	5.2%	15.9%	36.6%	66.1%	90.2%	93.3%

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