What can I deduct on my personal tax return?

It depends, if you itemize deductions or claim the standard deduction the amounts will vary. Itemizing your deductions is always better because that will net you a lower taxable income. However, you can only itemize if your expenses are greater than the standard deduction (2023 standard deduction for filing status as single = $13,850, MFJ or QSS = $27,700, HOH = $20,800). Itemizing deductions means you can write off large personal expenses, on Schedule A of your Form 1040, like mortgage interest paid, property taxes paid, certain unreimbursed medical & dental expenses over 7.5% of your AGI, qualified charitable contributions up to 60% of your AGI, state and local taxes, deductible portion of your DMV Vehicle License Fee. If you do not itemize, you will still receive a standard deduction (reduces your taxable income and possibly tax bracket) according to your filing status as mentioned above.

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