Itemized Deductions

Free IRS Enrolled Agent SEE Part 1 (Individuals) lesson in Deductions and Credits. 20 min read, ~2,970 words.

Medical floor: deduct unreimbursed medical expenses only to the extent they exceed 7.5% of AGI; 2025 mileage rate is \$0.21 per medical mile. SALT cap: state and local income (or sales) plus real estate plus personal property tax, capped at \$10,000 (\$5,000 MFS). Mortgage interest: acquisition debt cap \$750,000 for...