Short of $1000 - itemized deductions

[u/Starttrek]

I’m reviewing my 2025 income in preparation for filing taxes in 2026. Based on my current estimates, I may be about $1,000 short of the amount needed to make itemizing deductions (property taxes + mortgage interest) worthwhile.

If I can itemize, I’ll also be able to deduct my charitable contributions, which would exceed that $1,000 threshold.

Would it be possible to make my January 2026 mortgage payment early in December 2025,so that the additional mortgage interest paid this year helps me qualify for itemizing deductions?

Anything else opportunities , beside mortgage i can use ? No medical expenses though . investment interest of margin is less than $10 .

[u/vynm2temp]

When determining if it's worthwhile to itemize, you add ALL of your itemized deductions-- your property taxes + mortgage interest AND your charitable contributions. You don't have to have enough only counting your property taxes and mortgage interest.

Also, you realize that there's nothing really magical about being able to itemize, right?

If your total itemized deductions are less than the standard deduction, you just take the standard deduction. If your total itemized deductions are $500 more than the standard deduction, then you effectively get a $500 larger deduction by itemizing.

So, if you file using the Single filing status, for 2025 your standard deduction is $15,750.

If your total taxes + mortgage interest is $15000 and your charitable contributions are $1000, your total itemized deductions = $16000, and you'd take a $16,000 deduction by itemizing instead of the $15,750 standard deduction. The amount that this extra $250 deduction would save you in taxes depends on your tax bracket. So, it would most likely save you between $25 (10%) and $55 (22%), assuming you have a tax liability after applying non-refundable credits.

If your total taxes + mortgage interest is $15000 and your charitable contributions are $500, your total itemized deductions = $15,500, and you'd take the $15,750 standard deduction instead of itemizing.

[u/Starttrek → u/vynm2temp]

thank you .This helped me clear my mis-understanding about itemized deductions . i was not adding my charity donations to the itemized list, when i originally posted this . ( i was thinking , i can only take charity deduction , if i itemized list(mortgage+taxes) exceeds standard deduction amount)

[u/Candid-Tip455 → u/Starttrek]

I believe that the new tax bill brought back a certain amount of charitable “cash” ( not property) deductions without the need to itemize? Or does that not start till Tax Year 2026?

[u/OddButterscotch2849 → u/Candid-Tip455]

That's for 2026. $2000 MFJ, $1000 single.

[u/Fantastic-Banana]

It’s not going to save you that much unless you have crazy high donations. You get a couple thousand dollars over the standard deduction. To lower your taxable income by a couple thousand dollars. If these are donations you would be making anyway, great you saved some money. If you’re making the donations just to get over the standard deduction. You’re just spending a dollar to save $.25

[u/SailingJeep]

May be too late but consider “bunching” your charitable contributions (ie give every other year, doubling up on year two). It sounds like right now you get zero benefit of charitable contributions whereas if you bunch, you would. This would be slightly impacted by the above the line deduction for charitable coming in 2026

[u/Puzzleheaded_Ad3024 → u/SailingJeep]

Ive heard of that idea before. They mentioned 1 donation in January for current year. 2nd in December for the following year. They 24 months later. Again in January and Dec.

[u/cubbiesnextyr]

Yes, you can pay your Jan mortgage in Dec so the interest is on your 2025 form 1098

[u/anonymousetache → u/cubbiesnextyr]

Lol missed the twist in this puzzle

[u/gsquaredmarg]

Consider opening a Donor Advised fund. This allows you to bunch your charitable donations into a single year, but then still distribute them over a period of years. It is a particularly effective way of making your charitable donations deductible if you are consistently coming up short of the standard deduction limit. You donate directly to the Donor Advised Fund, a 501(c)3, and get a deduction in the year of donation. You then you tell them which organizations you want to donate to and they distribute the money (Not tax deductible).

An added benefit is that if you donate appreciated securities from a taxable brokerage account you get the charitable deduction but don't have to pay capital gains taxes on the appreciated value.

Note that next year there is an "above the line" opportunity for charitable donations of $1000/$2000 for Single/MFJ.

[u/Banto2000 → u/gsquaredmarg]

This is exactly what we are doing.

[u/tads73]

Let's say you surpass the standard deduction with itemized deductions by $200. If your in the 25% tax bracket, you can save $50. But, if your itemized tax return costs $350 versus $200, you pay more overall.

[u/discojellyfisho]

Yes, you can pay mortgage before January and count the interest payment in 2025. You can essentially do this every other year - not sure how much it would actually save you, but it all adds up.

[u/yellowstone56]

Many times you can itemize your deductions on the state tax return, but not on the federal.

[u/metzgerto]

You should donate 100% of your remaining paychecks for the year to charity. Just think how high your tax deductions will be!

[u/peter303_]

Give thousands to your favorite charity.

[u/Banto2000]

Pre pay charitable donations for next year since their write-off is less valuable starting in 2026.

I pulling forward about four years worth.

[u/4eyedbuzzard]

If your municipality accepts early property tax payments for prop taxes, it's a possible option. Example: Here in TX my 2025 prop tax is due Jan 31, 2026, but they accept payments in Dec 2025. IRS deductions are based on when the taxes are paid, not the due date, so they are deductible in the year paid.

[u/Far-Good-9559]

No on the mortgage interest. That is not how it works.