FINANCEDeductionsFinance Calculator
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Sample Scenarios

Your Deductions

single/married/hoh
Form 1098
$
SALT (max $10K)
$
Cash + property
$
Total (7.5% threshold)
$
For medical calc
$

⚠️Estimates only — not tax advice. Tax laws vary by jurisdiction. Consult a CPA or tax professional.

1. Key Takeaways

  • • 2024: Single $14,600, Married $29,200, HOH $21,900
  • • SALT cap: $10,000 max
  • • Medical: Over 7.5% of AGI
  • • Bunching donations can help itemizers

2. Did You Know?

SALT $10K

Cap on state/local

7.5%

Medical threshold

Bunching

Alternate years

65+

Extra $1,550

Records

Keep receipts

Compare

Take higher

3. How It Works

Itemized = Mortgage + SALT (max $10K) + Charity + Medical (over 7.5% AGI). Take higher of Standard or Itemized.

4. Expert Tips

SALT cap

$10K max

Medical threshold

7.5% of AGI

Bunch donations

Alternate years

Keep records

All deductions

5. Comparison Table

Status2024 Standard
Single$14,600
Married$29,200
HOH$21,900

6. FAQ

SALT cap?

$10,000 max for state/local taxes.

Medical deduction?

Expenses over 7.5% of AGI.

Bunching?

Alternate years to exceed standard.

7. Sources

  • • IRS — Standard Deduction
  • • IRS — Itemized Deductions

8. Quick Stats

$14.6K

Single

$29.2K

Married

$10K

SALT cap

7.5%

Medical

9. Disclaimer

Disclaimer: Estimates only. Consult a tax professional.

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