itemized deduction

Cultural  

1. A legal deduction from one's personal taxable income for money spent on specific goods and services, such as property taxes and charitable contributions. These deductions must be itemized — that is, individually listed and documented — on one's tax return.

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Example Sentences

One reason to do this in 2025: Starting in 2026, the amount of charity that’s eligible for an itemized deduction will shrink.

From MarketWatch • Dec. 19, 2025

For retirees, medical expenses could add up to a big itemized deduction.

From Barron's • Dec. 5, 2025

Bronnenkant: Qualified medical expenses are an itemized deduction in excess of 7.5 percent of your adjusted gross income.

From Washington Post • Feb. 8, 2023

As a result, far fewer families — and, in particular, far fewer middle-class families — are claiming the itemized deduction for mortgage interest.

From New York Times • Aug. 4, 2019

He announced the retention of the itemized deduction for property in a later statement.

From The Wall Street Journal • Oct. 29, 2017