401K Deduction? Do you mean a 1099R for a withdrawal or distribution?
Will you have enough Deductions to itemize on Schedule A (more than the Standard Deduction)? The property tax deduction is included in the SALT (State And Local Tax). For 2024 the limit on SALT deductions was 10,000. But for 2025 the limit is 40,000.
For 2025 the standard deduction amounts are:
Single 15,750 + 2,000 for 65 and over or blind (17,750)
HOH 23,625 + 2,000 for 65 and over or blind
Joint 31,500 + 1,600 for each 65 and over or blind (both 34,700)
Married filing Separate 15,750+ 1,600 for 65 and over or blind
