Tax Deductions List 2026
Complete checklist of every major tax deduction available for the 2025-2026 tax year. Know what qualifies, what the limits are, and whether you should itemize.
Tax deductions reduce your taxable income, which directly lowers the amount of tax you owe. The difference between a deduction and a credit is important: deductions reduce the income you are taxed on, while credits reduce your tax bill dollar for dollar. This guide covers every significant deduction available for the 2025 tax year, with limits and qualifications based on current law.
Use our Tax Refund Calculator to see how deductions affect your refund. For help deciding between standard and itemized deductions, see our Itemized vs Standard Deduction guide.
Standard Deduction
The standard deduction is a flat amount you can subtract from your income without itemizing. For 2025, the standard deduction amounts are: $15,000 for single filers, $30,000 for married couples filing jointly, $22,500 for head of household, and $15,000 for married filing separately. Additional amounts apply for seniors (65+) and blind taxpayers: $1,950 extra for single/head of household, $1,550 extra per spouse for married. About 90% of taxpayers take the standard deduction.
Medical and Dental Expenses
You can deduct unreimbursed medical and dental expenses that exceed 7.5% of your adjusted gross income. Qualifying expenses include doctor visits, hospital stays, prescriptions (including insulin), dental treatments, vision care including glasses and contacts, mental health counseling, long-term care services, and travel for medical care. You cannot deduct over-the-counter medications (without a prescription), cosmetic surgery, or general health items like toothpaste.
State and Local Taxes (SALT)
You can deduct state and local income taxes or sales taxes (but not both) plus property taxes, capped at a combined total of $10,000 ($5,000 for married filing separately). This limit applies to the total of state income tax and property tax combined. Many taxpayers in high-tax states hit this cap quickly.
Interest Deductions
Mortgage interest is deductible on up to $750,000 of acquisition debt for mortgages taken after December 15, 2017. Home equity loan interest is deductible if the loan proceeds are used to buy, build, or substantially improve the home. Student loan interest of up to $2,500 is deductible as an adjustment to income (no itemizing needed). Investment interest is deductible up to the amount of net investment income.
Charitable Donations
Cash donations to qualified 501(c)(3) organizations are deductible up to 60% of your AGI. Non-cash donations (clothing, household goods) are deductible at their fair market value, generally up to 50% of AGI. Donations of appreciated assets like stocks held over one year can avoid capital gains tax while providing a deduction at fair market value. You must have a written acknowledgment from the charity for any single donation of $250 or more.
Business and Self-Employment Deductions
Self-employed individuals can deduct a wide range of business expenses: home office (regular or simplified $5/sq ft method, up to 300 sq ft), vehicle expenses (standard mileage rate of 67 cents/mile for 2025 or actual expense method), health insurance premiums, retirement plan contributions (SEP IRA, Solo 401(k), SIMPLE IRA), and ordinary and necessary business expenses including supplies, equipment, software, travel, and business meals (50% deductible). See our Home Office Deduction guide for details.
Education-Related Deductions
The student loan interest deduction allows up to $2,500 of interest paid on qualified student loans, phased out for higher incomes. Employer-provided educational assistance of up to $5,250 per year is tax-free to the employee. The Tuition and Fees Deduction has expired; education benefits now run primarily through tax credits (American Opportunity Tax Credit and Lifetime Learning Credit).
Retirement Savings Deductions
Contributions to a traditional IRA are deductible up to $7,000 ($8,000 if age 50+) for 2025, subject to income limits if you or your spouse have a workplace retirement plan. HSA contributions are deductible up to $4,300 (self-only) or $8,550 (family) for 2025, plus an extra $1,000 catch-up for those 55+. SEP IRA, Solo 401(k), and SIMPLE IRA contributions are deductible for self-employed individuals.
See our full Standard Deduction guide for more details, and our Itemized vs Standard comparison to decide which approach saves you more.
Frequently Asked Questions
The most common include: standard deduction ($15,000/$30,000), mortgage interest, charitable donations, state and local taxes (up to $10,000), medical expenses over 7.5% AGI, property taxes, student loan interest ($2,500), and HSA contributions.
Take standard deduction if your itemized deductions total less than $15,000 (single) or $30,000 (married). Itemize if mortgage interest, charity, SALT, and medical expenses exceed those thresholds.
Yes, unreimbursed medical expenses exceeding 7.5% of AGI are deductible if you itemize. Includes doctor visits, prescriptions, dental, vision, and mental health care.
Mortgage interest (up to $750,000 debt), property taxes (part of $10,000 SALT cap), home office (self-employed), mortgage points, and energy-efficient improvements.
Yes, if you itemize. Cash donations deductible up to 60% of AGI. Non-cash at fair market value up to 50% of AGI. Must have written acknowledgment for donations $250+.
Detailed deduction guides: For deeper dives into specific deductions, see our dedicated guides: Medical Expense Deduction, Charitable Donation Deductions, Sales Tax Deduction, Standard Deduction for Seniors, Rental Property Taxes, HSA Tax Deduction, and EV Tax Credit 2026.
All deduction amounts, thresholds, and rules in this guide have been verified against IRS Revenue Procedure 2024-40 and current Internal Revenue Code provisions for the 2025 tax year.