Itemized Deductions
Also called: itemising deductions, itemized deduction, Schedule A
Itemized deductions are specific expenses — mortgage interest, state and local taxes, charitable gifts, large medical costs — claimed instead of the standard deduction. It's strictly either/or, so only the amount above the standard deduction represents a real saving. Bunching two years of charitable giving into one tax year is the standard technique for clearing the threshold in alternating years.