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Even if you don't plan on itemizing your tax deductions this year, you can still claim these special deductions without itemizing.

The higher standard deduction could prevent you from itemizing some deductions. Here are popular tax breaks that you can claim without itemizing.

The big drop in itemized returns can be attributed to the Tax Cuts and Jobs Act of 2017, which raised the standard deduction dramatically starting in tax year 2018. In the 2023 tax year, individuals can claim a $13,850 standard deduction, and married couples can claim $27,700. Those who file as head of household can claim $20,800.

Taxes are complicated enough without adding "itemize deductions" to your list of to-dos. Here are 5 tax deductions you can claim without itemizing.

For the 2024 tax year, the standard deduction is $14,600 for single filers and $29,200 for married couples filing jointly. If your itemized deductions are less than the standard deduction, you’ll save money by taking the standard deduction instead.. Retirement Contributions

When you file your taxes, you can claim the standard deduction or choose to itemize. However, recent changes in tax law have dramatically reduced the percentage of Americans who itemize. For You:...

The standard tax deduction is used by most filers. The amounts are substantial, thanks to the increases of the Tax Cuts and Jobs Act (TCJA) of 2017. Plus, it’s easy to claim. The standard amount for each filing status is listed directly on Form 1040. See more tax forms and more about them at Tax Forms 2024 and Tax Forms 2025. But that doesn’t mean you should stop looking for deductions ...

To get the most lucrative tax deductions, you need to itemize expenses using a Schedule A. This form lets you write off mortgage interest, real estate taxes, charitable contributions and some medical expenses. ... Bottom line: Using a tax-exempt QCD can be a good way for charitably minded seniors to minimize taxes without itemizing deductions ...

Eligible individuals can claim tax deductions for contributions made to health savings accounts without itemizing. Since there is a limit on contributions to HSA, the deductions are made accordingly. For example, your contribution will be capped at $4,150 if you had self-only HDHP coverage in 2024.

11 tax deductions you can take without itemizing. Above-the-line tax deductions get their name from where they were found on the old Form 1040 — just above the line where your adjusted gross income (AGI) is recorded. However, after the 2017 tax reform, above-the-line deductions are now included on the 1040 Schedule 1 form. ...

Here is a list of 12 tax deductions you can claim to maximize your savings without itemizing. 1. Student Loan Interest credit: depositphotos. ... Best of all, you don't need to itemize deductions on your tax return to take advantage of this deduction. It's a very common deduction, so take advantage of it if you have an HSA. ...

The American Opportunity Tax Credit is one of the most generous education tax breaks, offering up to $2,500 per eligible student. Designed for the first four years of post-secondary education, this credit covers 100% of the first $2,000 spent on tuition, books, and supplies, plus 25% of the next $2,000.

1. IRA contributions. Traditional IRA contributions are tax deductible up to each year's maximum allowable limit. For both the 2020 and 2021 tax year, that means you can deduct up to $6,000 in IRA ...

Here are five tax deductions you can claim, even if you’re taking the standard deduction like most U.S. taxpayers. 5 tax deductions for people who don’t itemize

The Retirement Savings Contributions Credit, also known as the Saver’s Credit, offers a tax credit to low- and moderate-income taxpayers who contribute to a retirement account. This credit can be claimed without itemizing deductions and is worth up to $2,000.

Let’s take a look at deductions that you can take without itemizing. You can reduce your taxable income by itemizing your deductions. Which tax deductions should I itemize? Itemized deductions include many of the most popular tax deductions such as home mortgage interest, medical expenses, charitable contributions, and state and local taxes.

If you want to boost your tax return in 2024 without having to go through a lot of pain, here are six effortless tax deductions you don’t have to itemize.. 1. Traditional IRA Contributions. You can deduct contributions to traditional IRAs up to an annual limit set by the IRS. As MoneyTalksNews reported, for the 2023 tax year — the one due in spring 2024 — workers younger than age 50 can ...

Choosing to go with others available to you instead of the standard deduction is known as "itemizing" your deductions. You'd only want to go down that path if the total of all of your itemized ...

Taking deductions when filing your taxes can reduce the amount you owe. But there are two different ways to claim deductions, and the one you choose can impact how much you save. The far more ...