Standard vs Itemized Deductions 2024: Which One Should You Choose?
Compare the $14,600 standard deduction against itemized deductions including mortgage interest, state taxes, and charitable contributions.
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Most Americans benefit from the standard deduction, but itemizing is worthwhile if your qualified expenses exceed the standard amount. Key itemized deductions include mortgage interest (up to $750k loan), state and local taxes (capped at $10,000 SALT), and charitable contributions.
Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice. Tax laws change frequently — consult a qualified tax professional or official government resources for advice specific to your situation.
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