Mortgage interest, medical expenses, and other tax deductions

This article will cover deductions which are taken on Schedule A of the IRS form 1040.  Filers are entitled to either take the standard deduction (for 2016 these amounts are $6,300 for single and married filing separately, $12,600 for married filing jointly, and $9,300 for head of household) or itemize certain deductions.  These deductions include mortgage interest (including certain “points”), medical and dental expenses, charitable contributions, certain taxes, casualty, disaster and theft losses, and certain miscellaneous expenses.  Some of these deductions are subject to certain thresholds, for example medical and dental expenses are only deductible to the extent that they exceed 10% of adjusted gross income (“AGI”).