2024 Itemized Deductions Limit. If your expenses qualify, you can deduct the entire amount from your taxable income. A wide range of expenses can qualify for itemized deductions, including mortgage interest on up to two homes, state and local income or sales taxes, property taxes, medical and dental expenses exceeding 7.5% of adjusted gross income, and.
For 2023, there is no limit on itemized deductions. For 2024, the limit is the greater of $1,300 or your earned income plus $450.