Tax guide

Itemized Deductions

“Itemized deductions” is a list of tax breaks claimed collectively on Schedule A of your tax return. Common itemized deductions include charitable contributions, state and local income taxes, property taxes, mortgage interest, and unreimbursed medical expenses. While these deductions can provide a tax break for some filers, many people don’t have enough individual deductions to help lower their tax bill. Unless the total of your itemized deductions is more than the standard deduction for your filing status, choosing the standard deduction is easier and worth more as a tax break.

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Itemized Deductions

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