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The 2022 standard deduction is $12,950 for single filers and those married filing separately, $25,900 for joint filers, and $19,400 for heads of household.

To report your gambling losses, you must itemize your income tax deductions on Schedule A. If you claim the Standard Deduction, then you can't reduce your tax by your gambling losses. The IRS doesn't permit you to ?subtract your losses from your winnings and report the difference on your tax return.

You can deduct on Schedule A (Form 1040) only the part of your medical and dental expenses that is more than 7.5% of your adjusted gross income (AGI). This publication also explains how to treat impairment-related work expenses and health insurance premiums if you are self-employed.

Some taxes and fees you can't deduct on Schedule A include federal income taxes, social security taxes, transfer taxes (or stamp taxes) on the sale of property, homeowner's association fees, estate and inheritance taxes, and service charges for water, sewer, or trash collection.

If you itemize deductions, you need information on: Out-of-pocket medical expenses. Premiums paid for long-term care insurance. Form 1098 showing any mortgage interest, mortgage insurance premiums, and points you paid during the tax year. Real estate taxes. State and local income taxes or sales taxes.

Itemizing requirements Enter your expenses on the appropriate lines of Schedule A. Add them up. Copy the total amount to the second page of your Form 1040. This amount is then subtracted from your income to arrive at the final taxable income number.

If you itemize, you can deduct a part of your medical and dental expenses, and amounts you paid for certain taxes, interest, contributions, and other expenses. You can also deduct certain casualty and theft losses. If you and your spouse paid expenses jointly and are filing separate returns for 2022, see Pub.