Itemized Deductions Tracker

Itemized Deductions Tracker Excel for anyone deciding whether itemizing actually beats the standard deduction — SALT log, mortgage interest and charitable log, medical and other deductions, and a side-by-side comparison with the standard deduction. Know what every deduction is really worth — before you file.

Built for taxpayers who itemize, or are thinking about it, and want to see each category add up — and whether the total clears the standard deduction — without accounting software. If the gap is small, this workbook shows it before you spend hours gathering receipts.

WHAT'S INCLUDED (6 sheets):

- SALT Log — date, description, category, and amount paid for every state income tax and property tax payment, with the SALT cap shown. Deductible SALT is the lesser of what you paid and the cap.

- Mortgage and Charitable Log — date, description, category, amount, Claimed flag, and claimed amount for mortgage interest from Form 1098, cash gifts, and noncash donations. A donation with no receipt stays unclaimed.

- Medical and Other Deductions Log — date, description, category, and amount for medical costs, with the 7.5 percent of AGI floor and the deductible amount, plus any other deductible items.

- Itemized vs Standard Comparison — totals by category pulled by formula, the standard deduction for your filing status, which one wins, by how much, and the estimated tax saved.

- Dashboard — total itemized, standard deduction, the difference, SALT cap used, largest category, medical shortfall, and the missed donation.

- Cover and How to Use — start here. Yellow cells are the only ones you edit.

EXAMPLE DATA (2026 tax year, Married Filing Jointly — replace with your own numbers):

- SALT paid 17,800 (state income tax 10,400, property tax 7,400); SALT cap 40,000 (2026 estimate); deductible SALT 17,800; cap used 44.5 percent.

- Mortgage interest 11,250; charitable cash 3,600; charitable noncash claimed 850; charitable claimed total 4,450; charitable not claimed 400.

- Medical expenses 9,800; AGI 145,000; medical floor 10,875 (7.5 percent of AGI); deductible medical 0; shortfall below the floor 1,075; other deductions 0.

- Total itemized deductions 33,500; standard deduction 32,200 (2026 estimate); itemized wins by 1,300; estimated tax saved 286 at a 22 percent marginal rate.

- Largest deduction category: SALT (state and local taxes), 17,800.

HOW IT WORKS:

1. Download the Excel file instantly after purchase.

2. On sheet 1, log state income tax and property tax payments as you make them. Change the SALT cap cell if your cap is different.

3. On sheet 2, enter mortgage interest and donations. Set Claimed to No for any donation without a receipt — it stays out of your total.

4. On sheet 3, enter medical expenses and your AGI. The 7.5 percent floor and deductible medical amount fill in by formula.

5. On sheet 4, enter your standard deduction for your filing status. The sheet tells you which one wins, by how much, and the estimated tax saved.

HOW THE NUMBERS WORK:

Deductible SALT is the lesser of total SALT paid and the SALT cap. Claimed amount is the donation amount when Claimed is Yes, and 0 when Claimed is No. Deductible medical is medical costs above 7.5 percent of AGI, or 0 when costs fall below the floor. Total itemized is SALT plus mortgage interest plus charitable claimed plus medical plus other deductions. Itemized minus standard is the difference — positive means itemizing wins. Estimated tax saved is the difference times your marginal tax rate, or 0 if the standard deduction wins.

WHO IT'S FOR:

Taxpayers deciding whether to itemize, homeowners with mortgage interest and property tax, charitable givers who want their donations counted, and anyone who wants the itemized-versus-standard answer in one workbook — without accounting software.

PLEASE NOTE:

- This is a digital download. No physical item will be shipped.

- Works in Microsoft Excel and Google Sheets (upload to Google Drive to open in Sheets).

- Example data for the 2026 tax year is included (SALT paid 17,800, mortgage interest 11,250, charitable gifts claimed 4,450, medical costs 9,800, AGI 145,000). Replace it with your own numbers.

- The example is simplified: itemized beats the standard deduction by only 1,300 in the example — worth about 286 of estimated tax saved at a 22 percent marginal rate. Medical costs of 9,800 fall 1,075 short of the 10,875 floor (7.5 percent of AGI), so none of them are deductible, and a 400 furniture donation is not claimed because there is no receipt.

- All tax figures are planning estimates for the 2026 tax year (returns filed in 2027). Tax law, caps, and standard deduction amounts change — confirm them with your own accountant or CPA before filing.

- This is a planning tool only, not tax, legal, or CPA advice.

- Due to the nature of digital downloads, refunds are not available. Message me before buying if you have a question.

Built by an accountant: B.S. Accountancy, ASU W. P. Carey, with revenue-reconciliation experience at Marriott and audit work at PwC.