What is the standard deduction for 2025 and should I itemize instead?

The 2024 standard deduction amounts are:

Should you itemize? Only if your total itemized deductions exceed your standard deduction. About 87% of taxpayers take the standard deduction because the TCJA roughly doubled it in 2018.

Common itemized deductions (Schedule A):

• State and local taxes (SALT): Income tax or sales tax + property taxes, capped at $10,000 ($5,000 if MFS). This cap is the reason many former itemizers now take the standard deduction.
• Mortgage interest: On up to $750,000 of mortgage debt ($375,000 if MFS) for loans originated after 12/15/2017.
• Charitable contributions: Cash donations up to 60% of AGI; non-cash donations at fair market value.
• Medical expenses: Only the amount exceeding 7.5% of AGI is deductible.
• Casualty and theft losses: Only for federally declared disaster areas.

Quick test — you might benefit from itemizing if:

• You own a home with a mortgage AND live in a high-tax state (NY, CA, NJ, CT)
• You made large charitable donations ($5,000+)
• You had significant unreimbursed medical expenses
• Your combined deductions feel like they might exceed $14,600 (single) or $29,200 (MFJ)

Bunching strategy: If you're close to the threshold, consider "bunching" deductions — make two years' worth of charitable donations in one year to exceed the standard deduction, then take the standard deduction the next year. Donor-advised funds make this easy.