Can I take a tax write off for itemized deductions on my tax return?

You deduct itemized deductions by listing on Form 1040, Schedule A all tax deductible amounts you paid during the tax year for certain items such as medical and dental expenses, state income tax, local income tax, real estate tax, state personal property tax, local personal property tax, home mortgage interest, and gifts to charity. These are called itemized deductions.

The standard deduction is a fixed dollar amount that reduces the amount of taxable income on which you pay tax. The amount of the basic standard deduction depends upon your filing status on your tax return. However, if you can be claimed as a dependent on someone else’s tax return, your standard deduction amount may be different. In some cases, the standard deduction can consist of two parts, the basic standard deduction, and an additional standard deduction amount for age, blindness, or both.

If a person is born or dies before the end of his or her tax year, the tax year is considered to cover a 12-month period

When you complete Form 1040, Schedule A you total the tax deductible amount spent on itemized deductions and compare the total with your standard deduction. The larger of the two tax deductions, standard deduction or itemized deduction, will be the tax deduction to choose on your tax return, since it will lower the amount of federal income tax you will owe or increase the amount of tax refund you will receive.

How much is my standard tax deduction?
If your filing status is:	Your standard tax deduction is:	If 65 or over AND/OR blind add for EACH
Single	$5,150	$1,250
Married filing a joint tax return or Qualifying widow(er) with dependent child	$10,300	$1,000
Married filing a separate tax return	$5,150	$1,000
Head of Household	$7,550	$1,250
Dependent Children	The greater of $850 OR the amount of earned income, plus $300. Not to exceed $5,150 unless the dependent is blind. If blind add $1,250.

Itemized Deductions - Types of itemized deductions

Itemized Deductions - Casualty and Theft losses
Usually you can only deduct on your tax return a casualty loss - one with a sudden, unexpected or unusual cause - in the tax year it occurs. And you're allowed to claim only the amount of the loss that exceeds 10% of your AGI after subtracting $100 for each casualty on your tax return.

For more information on Casualty and Theft Loss itemized deductions click here.

Itemized Deductions - Charitable Contributions
Normally, you can claim your full charitable contribution on Form 1040, Schedule A. If you got something back in exchange for your charitable contribution, however, you can deduct only the excess value of your gift on your tax return.

If you gave a charity appreciated stock last tax year, you get a double tax break. Not only do you avoid owing tax on the capital gain, you can generally deduct the current market value of the shares on your tax return.

A reminder: If you made a non cash charitable contribution last tax year of more than $5,000 - say, you donated a painting - you'll need a written appraisal of its fair market value, and the appraiser must sign the Form 8283 that you attach to your Form 1040. You may be able to write off the appraiser's fee as a miscellaneous itemized deduction on your tax return.

For more information on Charitable Contribution itemized deductions click here.

Itemized Deductions - Interest
Interest is an amount you pay for the use of borrowed money. To deduct interest you paid on a debt on your tax return you must be legally liable for the debt and you must be able to use itemized deductions.

For more information on Interest itemized deductions click here.

Itemized Deductions - Medical and Dental Expense Expenses
The basic rule: You can deduct health costs on your tax return for yourself, your spouse and your dependents only when the unreimbursed expenses exceed 7.5% of your AGI. Among the items that the IRS permits: birth-control pills, Lamaze classes for the mother-to-be, and lead paint removal. For an unusual health write off on your tax return, get a note from your doctor stating that the expense was medically necessary. One caveat: If you claim a home improvement for medical reasons, you can deduct expenses on your tax return only to the extent that they exceed any increase in the value of your property caused by the renovations.

For more information on Medical and Dental Expense itemized deductions click here.

Itemized Deductions - Tax
Although you can deduct state personal property tax and local personal property tax, you can't claim fees or charges for personal property. The difference? Personal property tax is levied purely on the value of an item. So if your state charges you a flat fee or a size or weight based amount to register your car, that's not tax deductible on your tax return . But if you pay an amount based on your vehicle's value, it is tax deductible on your tax return.

For more information on Tax itemized deductions click here.

Itemized Deductions - Miscellaneous itemized deductions
There are many Miscellaneous itemized deductions.

For more information on Miscellaneous itemized deductions click here.

Related tax information about itemized deductions

Tax Directory Topics:
Casualty and Theft Losses
Charitable Contributions
Interest
Medical and Dental Expenses
Taxes
Miscellaneous Itemized Deductions
Itemized Deductions

IRS publications about itemized deductions and standard deductions:
For additional information see IRS Tax Topic 501, Should I Itemize? Also see IRS Publication 17,

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