Which tax deductions are commonly claimed by individuals?

The standard deduction and itemized deductions are commonly claimed by individuals when filing their taxes. The standard deduction provides a fixed dollar amount that reduces the taxpayer's taxable income, which varies by filing status, and is typically chosen by those who do not have substantial deductible expenses. Itemized deductions, on the other hand, allow taxpayers to list specific eligible expenses such as mortgage interest, property taxes, medical expenses, and charitable contributions. Taxpayers will generally choose itemizing if their total deductible expenses exceed the standard deduction amount.

This choice represents a foundational aspect of tax filing for individuals, as it directly impacts their taxable income and the overall tax they owe. While the other options present valid expenses that can pop up in tax contexts, they do not represent the primary categories of deductions used broadly across the individual taxpayer population.