Skip to content
English
More support
Go to app.holistiplan.com
  • There are no suggestions because the search field is empty.

Tax Report: Itemized Deduction Summary (Schedule A)

If the return includes Schedule A, Holistiplan will summarize the various itemized deductions noted on the return. We will also compare the itemized deduction amount to the standard deduction.


As a MFJ couple, Peter and Paula's standard deduction in 2025 was $31,500. Since the itemized deductions of $46,500 were higher than the standard deduction, they elected to itemize. The itemized deductions were:

  • $14,500 of deductible state and local taxes (SALT)
  • $22,000 of mortgage and investment interest expense
  • $10,000 of gifts to charity
  • $46,500 Total Itemized Deductions

Note: Under OBBBA , taxpayers can now deduct up to $40,000 of SALT (subject to phase-out based on MAGI) for tax years 2025-2029. Read more about this calculation and how it will appear in Holistiplan here.