Until the total of all of your SCH A itemized deductions exceed your standard deduction, the itemized deductions have absolutely no impact on your tax liability.
Some of your deductions are limited. For example, you are limited to a total of $10K for SALT (State and Local Taxes). So chances are your itemized deductions will not exceed your standard deduction.
thinking of looking at result of filing married separate if that might help?
Won't help at all. When a married couple files separate, your SALT limits are cut in half for each of you.
1 dependent child
When a married couple files separate, you both "automatically" lose deductions you would otherwise qualify for if you filed joint. One of the deductions you both lose is the dependent child care credit, among many others.
we bought a house together in 4/20. $1.1m loan and paid $18k in interest in 2020
Only the interest paid on the first $700K of the loan is deductible on SCH A. That will be reduced even more on that particular loan because it's the first $700K on all of your home loans combined.
Also, if you file separate, if one of you takes the standard deduction, then the other must also take the standard deduction; even if itemized deductions would be higher for one of you.
Likewise, if one of you itemizes deductions then you must both itemize deductions; even if the itemized deductions of one of you would be zero.
Bottom line is, filing separate returns is a lose-lose situation all the way around.
