What are itemized deductions?
Itemized deductions include such things as medical and dental expenses, state and local income taxes, home mortgage interest and points, gifts to charity, losses from theft or casualty, and unreimbursed employee expenses. Itemized deductions result in a lowered adjusted gross income and lower federal taxes paid. People who itemize deductions total them on IRS Form 1040, Schedule A. See your federal income tax instructions for additional information.
