🇺🇸 United States · Guide

Tax Deductions — Complete Overview

Deductions reduce your taxable income. You either take the standard deduction or itemize — whichever is larger.

Tax Year 2025Last reviewed 24 Jul 2026

Common itemized deductions

Deduction	Notes
Mortgage interest	On up to $750,000 of acquisition debt (for loans after 2017)
State and local taxes (SALT)	Capped at $10,000 combined ($40,000 for 2025 under recent law changes, phasing for high earners)
Charitable donations	Cash gifts up to 60% of AGI; property donations have separate limits
Medical expenses	Only the amount exceeding 7.5% of AGI

Traditional IRA contributions (subject to income limits if covered by a workplace plan)
Half of self-employment tax
HSA contributions
Student loan interest (up to $2,500, phased out at higher incomes)

Compare with the standard deduction for your filing status.

VERIFY

Deduction limits and phase-outs change with tax law updates. Verify current figures with a CPA or the IRS.