Itemized vs Standard Deduction Calculator
Compare itemized deductions versus the 2024 standard deduction to find which saves more.
Enter mortgage interest, SALT, charity, and medical expenses.
Your data stays in your browser. We do not store, collect, or transmit any information you enter.
Deduction Comparison
When filing US federal income taxes, you choose between taking the standard deduction (a fixed amount set by the IRS) or itemizing deductions (listing actual qualifying expenses). The right choice is whichever gives you the larger deduction — which directly reduces your taxable income.
The decision formula: Tax Savings = (Deduction Amount × Your Marginal Tax Rate) Choose whichever deduction is larger: standard vs. total itemized.
2024 Standard Deduction amounts:
- Single / Married Filing Separately: $14,600
- Married Filing Jointly / Qualifying Surviving Spouse: $29,200
- Head of Household: $21,900
- Age 65+ or blind: add $1,550 (single) or $1,250 per qualifying person (MFJ)
Common itemized deductions:
- Mortgage interest (Form 1098 from your lender)
- State and local taxes (SALT): Limited to $10,000/year (property + income or sales tax)
- Charitable contributions (cash and non-cash donations to qualified organizations)
- Medical expenses exceeding 7.5% of Adjusted Gross Income (AGI)
- Casualty losses from federally declared disasters
Worked example (Single filer, 22% bracket):
- Mortgage interest: $9,200
- State/local taxes: $10,000 (capped)
- Charitable donations: $2,400
- Total itemized: $21,600
- Standard deduction: $14,600
- Difference: $7,000 more by itemizing
- Tax savings from itemizing: $7,000 × 22% = $1,540 more in your pocket
When standard deduction usually wins:
- You rent (no mortgage interest)
- You live in a low-tax state (SALT cap matters less)
- Your charitable giving is modest
- Fewer than 30% of US taxpayers now itemize after the 2017 tax law doubled the standard deduction.