Itemize vs standard deduction
Varies
Should I Itemize or Take the Standard Deduction?
Short answer: Itemize only if mortgage interest, SALT (up to $40,400), charity, and medical above 7.5% of AGI add up to more than $16,100 single or $32,200 joint for 2026.
Bunching charitable gifts into one year can help you itemize every other year.
Records to keep: Keep receipts, statements, and a simple log of business purpose; compare itemizing to the standard deduction each year.
Itemize vs standard deduction
Varies
Individuals / Personal Taxes
Itemize only if mortgage interest, SALT (up to $40,400), charity, and medical above 7.5% of AGI add up to more than $16,100 single or $32,200 joint for 2026.
Business justification
Itemize only if mortgage interest, SALT (up to $40,400), charity, and medical above 7.5% of AGI add up to more than $16,100 single or $32,200 joint for 2026. Bunching charitable gifts into one year can help you itemize every other year.
Category
- Write-Off Guides