finance calculator
Itemized Deduction Calculator (2024/2025)
See whether itemizing beats the standard deduction under 2024/2025 numbers, with SALT caps and the 7.5% AGI medical threshold.
Results
- Total itemized deductions
- $16,000
- Standard deduction
- $14,600
- Deduction used
- $16,000
- Use itemized? (1=yes,0=no)
- 1
- Deductible SALT (capped)
- $8,000
- Medical deduction (over 7.5% AGI)
- $0
How to use this calculator
- Select tax year (2024 official, 2025 currently mirrors 2024 until IRS releases updates) and filing status.
- Enter AGI, SALT, mortgage interest, charity, medical expenses, and other itemized deductions.
- We show total itemized, standard deduction, and which option yields the higher deduction.
Inputs explained
- SALT cap
- State/local taxes capped at $10k ($5k MFS) under TCJA.
- Medical expenses
- Only the portion above 7.5% of AGI is deductible.
- Other itemized
- Other allowable itemized deductions not listed separately.
How it works
We cap SALT at $10,000 (or $5,000 if married filing separately).
Medical expenses are deductible only above 7.5% of AGI.
Itemized total = capped SALT + mortgage interest + charity + medical deduction + other itemized. We compare that to the standard deduction for your filing status and selected tax year (2024 official; 2025 currently uses 2024 figures until IRS updates).
When to use it
- Deciding whether to itemize under TCJA caps.
- Illustrating the impact of the SALT cap and medical threshold.
- Comparing 2024 vs 2025 standard deduction amounts.
Tips & cautions
- If your itemized total is close to the standard deduction, bunch charitable giving or deductible expenses in one year to exceed the threshold.
- Married filing separately halves the SALT cap—check that effect if applicable.
- When IRS publishes 2025 amounts, update the inputs to reflect the new standard deduction figures.
- Simplified—does not model AMT, phaseouts, QBI, or state-specific rules.
- Standard deduction figures for 2025 are placeholders (same as 2024) until IRS releases official amounts.
- Does not include above-the-line deductions or credits.
Deep dive
Compare itemized deductions to the 2024/2025 standard deduction with SALT caps and medical thresholds to see which option gives a higher deduction.
Enter AGI, taxes, mortgage interest, charity, and medical expenses to decide whether to itemize or take the standard deduction.
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