What is Schedule A for federal itemized deductions?
Schedule A (Form 1040) is the IRS tax form that individual taxpayers complete when they choose to itemize deductions rather than claim the standard deduction. It organizes deductible expenses into categories, including medical and dental expenses exceeding 7.5% of adjusted gross income, state and local taxes up to the current $40,000 SALT cap, home mortgage interest, charitable contributions, and casualty losses from federally declared disasters. Pairing itemized deductions with a Health savings account can further reduce taxable income, as HSA contributions lower AGI and boost medical deductibility.
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