Standard vs Itemized Deduction Guide (2026) - Tax Optimization
Standard vs itemized deduction comparison: deduction amounts, qualifying expenses, and optimization strategies for tax planning.
Summary
2026 standard deduction: $14,600 single, $29,200 married. Itemize if deductions exceed standard. Common itemized: mortgage interest, charitable donations, state taxes (SALT limited $10,000).
Key Steps
- 1Standard deduction 2026: $14,600 single, $29,200 married filing jointly.
- 2Itemize when: total deductions > standard deduction amount.
- 3SALT limitation: state/local taxes capped at $10,000 total.
- 4Mortgage interest: deduct interest on loans up to $750,000.
- 5Charitable donations: up to 60% of AGI for cash donations.
- 6Compare both methods: calculate tax savings with each approach.