Tax Deduction Calculator

Decide whether to itemize or take the standard deduction by comparing the two side by side. This calculator breaks down each itemized deduction category, accounts for the medical expense threshold, and shows the additional tax savings from choosing the better option.

Financial

Currency

Gross Income

Filing Status

Marginal Tax Rate (%)

Mortgage Interest Paid

State & Local Taxes (SALT)

Charitable Contributions

Medical Expenses

Other Itemized Deductions

Formula

Tax deductions lower your taxable income. Most taxpayers take the standard deduction, but if your itemized deductions exceed the standard, you should itemize. Common itemized deductions include mortgage interest, state and local taxes (SALT), charitable contributions, and medical expenses exceeding 7.5% of AGI.

Itemized = mortgage + SALT + charitable + medical(>7.5% AGI) + other; Use whichever is higher

Percentage: The percentage value you want to apply

Number: The original number or value

Result: The calculated result

How It Works

1Enter your gross income and filing status.
2Enter your marginal tax rate (for savings calculation).
3Enter each itemized deduction: mortgage interest, SALT, charitable, medical, other.
4Medical expenses are automatically reduced by 7.5% of AGI threshold.
5The calculator compares total itemized vs standard deduction and shows the better option.

Examples

$100K single, itemizing: $8K mortgage + $5K SALT + $2K charity

1.Standard deduction: $14,600
2.Itemized total: $15,000
3.Itemized is better by $400
4.Additional savings: $400 x 22% = $88
5.Total tax saved: $3,300

Result: $3,300 total tax saved (itemize!)

$80K married, low deductions

1.Standard: $29,200
2.Itemized: $5,500
3.Standard is better by $23,700
4.Tax saved: $29,200 x 12% = $3,504

Result: $3,504 total tax saved (standard deduction)

Frequently Asked Questions

Itemize when your total itemized deductions exceed the standard deduction ($14,600 single, $29,200 married in 2024). Common scenarios: high mortgage interest, high SALT, large charitable donations, or significant medical expenses.

Yes. The state and local tax (SALT) deduction is capped at $10,000 per return ($5,000 if married filing separately). This includes property tax plus state income tax or state sales tax.

Only medical expenses exceeding 7.5% of your Adjusted Gross Income (AGI) are deductible. For example, with $100K AGI, only medical expenses above $7,500 are deductible.

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Itemized vs Standard Deduction Guide

CalculateMe Team

Last updated: 2026-07-17

How It Works

1Enter your gross income and filing status.

2Enter your marginal tax rate (for savings calculation).

3Enter each itemized deduction: mortgage interest, SALT, charitable, medical, other.

4Medical expenses are automatically reduced by 7.5% of AGI threshold.

5The calculator compares total itemized vs standard deduction and shows the better option.

Examples

$100K single, itemizing: $8K mortgage + $5K SALT + $2K charity

1.Standard deduction: $14,600
2.Itemized total: $15,000
3.Itemized is better by $400
4.Additional savings: $400 x 22% = $88
5.Total tax saved: $3,300

Result: $3,300 total tax saved (itemize!)

$80K married, low deductions

1.Standard: $29,200
2.Itemized: $5,500
3.Standard is better by $23,700
4.Tax saved: $29,200 x 12% = $3,504

Result: $3,504 total tax saved (standard deduction)

Frequently Asked Questions

Yes. The state and local tax (SALT) deduction is capped at $10,000 per return ($5,000 if married filing separately). This includes property tax plus state income tax or state sales tax.

Only medical expenses exceeding 7.5% of your Adjusted Gross Income (AGI) are deductible. For example, with $100K AGI, only medical expenses above $7,500 are deductible.

Tax Deduction Calculator

Formula

How It Works

Examples

$100K single, itemizing: $8K mortgage + $5K SALT + $2K charity

$80K married, low deductions

Frequently Asked Questions

When should I itemize instead of taking the standard deduction?

Is there a cap on the SALT deduction?

How are medical expenses handled?

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Tax Deduction Calculator

Formula

How It Works

Examples

$100K single, itemizing: $8K mortgage + $5K SALT + $2K charity

$80K married, low deductions

Frequently Asked Questions

When should I itemize instead of taking the standard deduction?

Is there a cap on the SALT deduction?

How are medical expenses handled?

Related Calculators

Related Articles