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Itemized deductions

Writer: Mila YazykovaMila Yazykova

Taxpayers may need to itemize deductions because they can't use the standard deduction. They may also itemize deductions when this amount is greater than their standard deduction.

A taxpayer may benefit by itemizing deductions for things that include:

State and local income or sales taxes,

Real estate and personal property taxes,

Mortgage interest and Mortgage insurance premiums

Personal casualty and theft losses from a federally declared disaster

Donations to a qualified charity

Unreimbursed medical and dental expenses that exceed 7.5% of adjusted gross income

 
 
 

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