Tax write-offs for 2026 fall into four buckets: the standard deduction, above-the-line adjustments that reduce your adjusted gross income, itemized deductions on Schedule A, and business or investment deductions reported elsewhere on your return. The 2026 standard deduction is $16,100 for single filers and $32,200 for married couples filing jointly, so itemizing only pays off if your Schedule A total clears those figures.1Internal Revenue Service. IRS Releases Tax Inflation Adjustments for Tax Year 2026 Several thresholds changed under the One Big Beautiful Bill Act signed in July 2025, and a few new deductions became available to people who don’t itemize.
Standard Deduction or Itemize
Every filer picks one path. Take the standard deduction, or list qualifying personal expenses on Schedule A and deduct that total instead. The 2026 amounts are $16,100 for single filers and married filing separately, $32,200 for married filing jointly, and $24,150 for heads of household.1Internal Revenue Service. IRS Releases Tax Inflation Adjustments for Tax Year 2026
Most people take the standard deduction. Itemizing wins when you have a combination of large mortgage interest, significant state and local taxes, high medical bills, or substantial charitable giving. One thing to note before you start comparing: above-the-line adjustments reduce your AGI regardless of which path you pick, so those apply either way.
Deductions You Can Take Without Itemizing
These sit on Schedule 1 of Form 1040 and lower your adjusted gross income before the standard-vs.-itemized decision even comes up.2Internal Revenue Service. About Form 1040, U.S. Individual Income Tax Return A lower AGI can also expand your eligibility for credits that phase out at higher incomes.
Student Loan Interest
Up to $2,500 of interest paid on qualified education loans during the year is deductible.3Office of the Law Revision Counsel. 26 U.S. Code 221 – Interest on Education Loans The write-off phases out at higher incomes: single filers begin losing it at $85,000 in modified AGI, joint filers at $170,000.
Educator Expenses
K-12 teachers, instructors, counselors, and principals who work at least 900 hours during the school year can deduct up to $300 of unreimbursed classroom costs for 2026, or $600 for a married couple where both spouses qualify.4Internal Revenue Service. Topic No. 458, Educator Expense Deduction Books, supplies, computer equipment, and professional development courses all count.5Office of the Law Revision Counsel. 26 U.S. Code 62 – Adjusted Gross Income Defined
Health Savings Account Contributions
If you’re covered by a high-deductible health plan, HSA contributions are deductible up to $4,400 for self-only coverage and $8,750 for family coverage in 2026.6Internal Revenue Service. Revenue Procedure 2025-19 Anyone 55 or older who hasn’t enrolled in Medicare can add another $1,000.
Traditional IRA Contributions
Contributions to a traditional IRA are deductible up to $7,500 for 2026.7Internal Revenue Service. 401(k) Limit Increases to $24,500 for 2026, IRA Limit Increases to $7,500 Whether you get the full amount depends on your income and whether you or a spouse are covered by a workplace retirement plan. Single filers with a workplace plan lose the deduction between $81,000 and $91,000 of income; joint filers where the contributing spouse has a workplace plan phase out between $129,000 and $149,000.
Half of Self-Employment Tax
Self-employed workers owe 15.3% of net earnings toward Social Security and Medicare. The employer-equivalent half (7.65%) is deductible as an adjustment to income when you file Schedule SE. No itemizing required, and no separate election.
Charitable Cash Donations (New for 2026)
Filers who take the standard deduction can now deduct up to $1,000 in cash gifts to qualifying 501(c)(3) charities, or $2,000 for a married couple filing jointly.8Internal Revenue Service. Topic No. 506, Charitable Contributions This above-the-line deduction was created by the One Big Beautiful Bill Act.9Internal Revenue Service. Deducting Charitable Contributions at a Glance Property, stock, and other non-cash gifts don’t count for the above-the-line version. Get a written acknowledgment from each recipient organization.
Itemized Deductions on Schedule A
Add these up. If the total beats your standard deduction, itemize.
Medical and Dental Expenses
Only the portion of unreimbursed medical costs that exceeds 7.5% of your AGI is deductible.10Office of the Law Revision Counsel. 26 U.S.C. 213 – Medical, Dental, Etc., Expenses On $80,000 of AGI, that means the first $6,000 of expenses gets you nothing. Qualifying costs include payments to doctors, dentists, and surgeons, prescription drugs, medical equipment, and health insurance premiums you paid out of pocket. Cosmetic procedures generally don’t count unless medically necessary.
State and Local Taxes
The SALT deduction covers state and local income taxes (or sales taxes if you elect), plus real and personal property taxes.11Office of the Law Revision Counsel. 26 U.S.C. 164 – Taxes The 2026 cap is $40,000 ($20,000 if married filing separately), subject to a modified AGI limitation that won’t push the cap below $10,000.12Internal Revenue Service. Topic No. 503, Deductible Taxes That’s a large jump from the flat $10,000 limit that ran from 2018 through 2025. Filers in high-tax states who couldn’t clear the standard deduction under the old cap should rerun the math.
Home Mortgage Interest
Interest is deductible on up to $750,000 of mortgage debt used to buy, build, or substantially improve a primary or second home. The One Big Beautiful Bill Act made that threshold permanent. Mortgages taken out before December 16, 2017, keep the older $1,000,000 limit. Your lender sends Form 1098 in January with the interest figure for Schedule A.
Charitable Contributions If You Itemize
Cash gifts to qualifying charities are deductible up to 60% of AGI, and donations of appreciated property up to 30% of AGI.8Internal Revenue Service. Topic No. 506, Charitable Contributions Amounts over those limits carry forward for up to five years. Keep bank statements or receipts for every donation, and get written acknowledgment for any single gift of $250 or more.
Self-Employment and Small Business Write-Offs
Sole proprietors and single-member LLCs report income and deductions on Schedule C. The governing standard is that an expense must be ordinary (common in your line of work) and necessary (helpful and appropriate for it).13Office of the Law Revision Counsel. 26 U.S. Code 162 – Trade or Business Expenses Office supplies, software, advertising, professional services, and similar costs qualify. Lavish or personal expenses don’t.
Home Office
Space used exclusively and regularly as your principal place of business generates a deduction. The simplified method pays $5 per square foot up to 300 square feet, capping at $1,500.14Internal Revenue Service. Simplified Option for Home Office Deduction The regular method uses a proportional share of actual expenses like rent or mortgage interest, utilities, insurance, and depreciation. The regular method often produces a larger deduction; the simplified method involves less paperwork.
Business Vehicle Use
Business driving is deductible using either actual vehicle expenses or the IRS standard mileage rate. For 2026, the business rate is 72.5 cents per mile.15Internal Revenue Service. IRS Sets 2026 Business Standard Mileage Rate at 72.5 Cents Per Mile The medical and moving rate is 20.5 cents per mile (moving is limited to qualifying active-duty military). Commuting between home and a regular workplace never counts. Keep a mileage log with dates, destinations, and business purpose written down at the time of each trip.
Qualified Business Income Deduction
Owners of pass-through businesses (sole proprietors, partners, S corporation shareholders) can deduct up to 20% of qualified business income under Section 199A.16Office of the Law Revision Counsel. 26 U.S. Code 199A – Qualified Business Income The One Big Beautiful Bill Act made it permanent and widened the income bands. For 2026, the full deduction is generally available to single filers with taxable income up to $201,750 and joint filers up to $403,500. Above those levels, wage-and-property limits and restrictions on specified service trades (law, health, consulting, and similar fields) begin, and the deduction fully phases out at $276,750 for single filers and $553,500 for joint filers.
A new $400 minimum QBI deduction also applies starting in 2026 for taxpayers who materially participate in a business with at least $1,000 of qualified business income. QBI is taken on the personal return rather than Schedule C, so it lowers taxable income but not self-employment tax.
Capital Losses
Losses from selling investments first offset capital gains realized during the year. If losses still exceed gains, up to $3,000 of the excess reduces ordinary income ($1,500 if married filing separately), and anything left over carries forward indefinitely.17Office of the Law Revision Counsel. 26 U.S.C. 1211 – Limitation on Capital Losses If some of your holdings are down and you booked gains earlier in the year, selling the losers before December 31 can wipe out the gains and take another $3,000 off taxable income on top.
Backing Up What You Claim
The IRS expects receipts, bank statements, canceled checks, and other records for every deduction, kept for at least three years from the date you filed.18Internal Revenue Service. Topic No. 305, Recordkeeping Hold them longer if you underreported gross income by more than 25%, because the assessment window stretches to six years in that case.19Internal Revenue Service. 20Internal Revenue Service. Accuracy-Related Penalty Organized records through the year are cheaper than defending an audit later.