There is no significant change in tax deductions from 2020 to 2021.
Since we can't see your return it is difficult to analyze your deductions.
Tax deductions you can itemize
- Mortgage interest of $750,000 or less
- Mortgage interest of $1 million or less if incurred before Dec. 16, 2017
- Charitable contributions
- $250 (for educators buying classroom supplies)
- Medical and dental expenses (over 7.5% of AGI)
- State and local income, sales, and personal property taxes up to $10,000
- Gambling losses
- Investment interest expenses
- $2,500 in student loan interest (these do not need to be placed on Schedule A but can be taken above the line and subtracted from your taxable income); income phaseout limits apply
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