Standard: $29,200 (for a joint return)
2024 Deductions
Mortgage Interest: $6,154
State and Local Taxes: $10,000
Miscellaneous Deductions (gambling losses up to winnings): $4,352
Total: $20,506
Deductions
Home Mortgage Interest (Form 1098)
Deductible Home Mortgage Interest
Real Estate Tax
Vehicle and Personal Property Tax
Charitable Donations
Volunteer Expenses
Cash or Money Donations
Used Clothes and Household Goods
Noncash Item Donations
Miscellaneous Donations
Medical and Dental Expenses (must be more than 7.5% of income)
Investment Interest Expense
Casualty and Theft Losses
Depreciation – Investment
Vehicle Used in Investment
State and Local Income Taxes
State and Local Sales Tax
Miscellaneous Deductions (2%)
Miscellaneous Deductions
Standard vs. Itemized
Qualified Business Income Deduction