Maximize Itemization Strategies

General information: Itemized deductions are specific expenses permitted by the IRS that taxpayers can subtract from their adjusted gross income (AGI) to determine taxable income. Common categories include medical and dental expenses, state and local taxes, mortgage interest, charitable contributions, and certain miscellaneous expenses. By itemizing these deductions on Schedule, A of Form 1040, taxpayers may reduce their taxable income more than by taking the standard deduction.