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

For instance, the revamped $40,000 deduction for state and local taxes is an itemized deduction.

From MarketWatch • Jan. 20, 2026

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

Tax preparation fees or the cost of tax books or software can no longer be taken as a miscellaneous itemized deduction on Schedule A for the 2018 tax year, he said.

From New York Times • Feb. 23, 2018

As an itemized deduction, it would generally be available only to taxpayers whose combined deductions exceed the standard deduction, which would be $12,000 for individuals and $24,000 for married couples.

From The Wall Street Journal • Oct. 29, 2017