Taking deductions when filing your taxes can reduce the amount you owe. But there are two different ways to claim deductions, ...

your eligible expenses must exceed your standard deduction. Eligible expenses include mortgage interest, real estate taxes, medical expenses, and gifts to charity. It is difficult for most ...

The standard deduction is a popular way for taxpayers to reduce their taxable income. Your deduction amount depends on your age, filing status and other factors. Many, or all, of the products ...

Standard deductions have filing limitations ... Casualty and theft losses. Taxpayers can also include other itemized deductions that result from less common situations such as gambling losses ...

Common itemized deductions include things like mortgage interest and charitable donations. The amount of your standard deduction depends on several different factors. For example: Your filing ...

That's because a person's total itemized deductions – which can also include state and local taxes, mortgage interest and charitable gifts, among other things – need to exceed the standard ...