Deduction Comparison Table (Single Filer)
| Expense Item | User Amount | Deductible Limit | Strategy Result |
|---|---|---|---|
| Mortgage Interest | $12,500 | $12,500 | Itemized Component |
| State & Local Taxes (SALT) | $12,000 | $10,000 (Capped) | Itemized Component |
| Charitable Gifts | $3,000 | $3,000 | Itemized Component |
| Total Itemized Deductions | — | $25,500 | RECOMMENDED (Save Tax on +$10,900) |
| Standard Deduction (Single) | — | $14,600 | Lower Option |
Frequently Asked Questions
Should I claim the standard deduction or itemize?
You should choose whichever option provides the larger total deduction amount. If your total eligible Schedule A itemized deductions exceed your filing status standard deduction threshold, itemizing saves more in taxes.