In 1997, almost 70 percent of taxpayers took the standard deduction rather than itemizing their deductions.

Which of these people should have considered itemizing their deductions?

For starters, those taxpayers who have morgages on their homes. If you own a home and have a mortgage or home equity loan on the property, you almost certainly should fill out Schedule A to see if your itemized deductions are larger than the standard deduction you’re entitled to. Here is a quick rule of thumb:

If the interest you paid on your mortgage for 2000 is larger than the standard deduction that applies to you, you should itemize your deductions. If your interest is lower than the standard deduction that applies to you, add the real extate taxes you paid on your home to the interest amount and compare again. Your real extate taxes are also deductible.

Most commonly, mortgage interest, real estate taxes, state and city income taxes, charitable donations and medical expenses. Other items that might be deductible include dues to a union or professional organization that is employment related; subscriptions to work-related magazines; cost of protective clothing or uniforms required for work; tuition for classes that maintain or improve work skills; expenses incurred while job hunting in the same line of work you normally do (including resume costs, career counseling and employment agency fees); and a host of other fees, charges and legal costs. Guidelines on all of the itemized deductions are specific and taxpayers considering any of them should know the rules before taking them. A good resource is IRS Publication 529, Miscellaneous Deductions.

There are also several helpful Web sites established that have frequently asked questions, specific subject matter and links to other places of interest. You can start by logging on the the IRS homepage at www.irs.gov. Another site with a large assortment of information is www.quicken.com. Or you can perform your own search based on what information you are looking for.