Standard vs Itemized Deduction Calculator
Should you take the standard deduction or itemize? Enter your expenses to see which method saves you more money on your taxes.
Needed to calculate medical deduction threshold
Housing Expenses
Charitable Donations
Clothing, household items, etc.
Other Deductions
Only amount over 7.5% of income is deductible
Casualty losses, gambling losses, etc.
Recommended Method
Itemize
Save $9,500 more
~$2,090 in tax savings
Standard Deduction
$15,000
Itemized Total
$24,500
BESTItemized Deduction Breakdown
Capped at $10K (lost $1,000)
Over 7.5% threshold ($7,500)
SALT Cap in Effect
Your state and local taxes total $11,000, but the SALT deduction is capped at $10,000. You're losing $1,000in potential deductions.
What Can Be Itemized?
Mortgage Interest
Interest on up to $750K of mortgage debt
State & Local Taxes
Property + income/sales tax (capped at $10K)
Charitable Gifts
Cash and property to qualified organizations
Medical Expenses
Amount exceeding 7.5% of your AGI
Why Compare Deduction Methods?
Maximize Savings
The difference between standard and itemized can be thousands of dollars. Using the wrong method means paying more tax than necessary.
Plan Strategically
If you're close to the threshold, you can "bunch" deductions—prepaying property taxes or making charitable gifts to push over the standard.
Understand SALT Cap
The $10,000 SALT cap can make itemizing less valuable for high-tax state residents. See exactly how much you're losing to the cap.
Official IRS References
- IRS Schedule A (Form 1040): Itemized Deductions
Official form for claiming itemized deductions
- IRS Publication 501: Standard Deduction Amounts
Current standard deduction amounts by filing status
- IRS Publication 526: Charitable Contributions
Rules for deducting charitable donations
This calculator provides estimates based on your inputs. Actual deductions may vary based on specific rules and limitations. Consult a tax professional for personalized advice.