When does itemizing deductions beat the standard deduction?

Itemizing makes sense when your total deductible expenses — mortgage interest, property taxes (up to $10K SALT cap), charitable contributions, unreimbursed medical expenses above 7.5% of AGI — exceed the standard deduction. In 2024 that is $14,600 for single filers and $29,200 for married filing jointly. The SALT cap means many middle-income homeowners no longer benefit from itemizing since the Tax Cuts and Jobs Act.