# Itemized Deductions

*Taxes — Finicade finance glossary*

Itemized deductions are specific expenses — mortgage interest, state taxes, charity, big medical bills — claimed instead of the standard deduction.

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.

**Also known as:** itemising deductions, itemized deduction, Schedule A

**Related terms:** [Standard Deduction](https://finicade.com/glossary/standard-deduction), [Tax Deduction](https://finicade.com/glossary/tax-deduction), [Property Tax](https://finicade.com/glossary/property-tax), [Taxable Income](https://finicade.com/glossary/taxable-income), [Adjusted Gross Income (AGI)](https://finicade.com/glossary/adjusted-gross-income)

Source: https://finicade.com/glossary/itemized-deductions