Tax Deduction Calculator
Estimate your tax deductions based on common deductible expenses such as mortgage interest, charitable donations, medical expenses, and state taxes.
Published by:
isCalculator Editorial Team
Was this calculator helpful?
How to use this tool?
How to Use the Tax Deduction Calculator
- Enter your expenses in the provided fields:
- Mortgage Interest
- Charitable Donations
- Medical Expenses
- State & Local Taxes
- Provide your Annual Income (for the medical expense floor calculation). This is required even if you have no medical expenses.
- Select your Filing Status: Single or Married Filing Jointly. This determines the standard deduction amount ($12,400 for Single, $24,800 for Married).
- Click "Calculate Deductions". The calculator will:
- Subtract 7.5% of your income from medical expenses (only the excess is deductible).
- Sum all itemized deductions.
- Compare the total to your standard deduction and show the higher amount.
- Review the results: Your final deduction is shown in green, with a full breakdown below explaining each step.
Tip: All fields are required. If you see an error, check that each field contains a valid number (0 is acceptable).
Previous Results
| Result | Inputs | Date |
|---|
Frequently Asked Questions
For 2021, the standard deduction is $12,400 for single filers and $24,800 for married filing jointly.
Medical expenses are deductible only if they exceed 7.5% of your adjusted gross income (AGI). Only the amount above that threshold is deductible.
You should itemize if your total itemized deductions exceed the standard deduction for your filing status. Otherwise, take the standard deduction.
