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How do I calculate my total tax deductions?
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To calculate your total tax deductions, you will first need to determine the type of deductions available and the qualifications for each. Depending on your filing status, you may be able to take deductions for your state and local taxes, student loan interest, charitable donations, home and investment mortgage interest, childcare expenses, and any other qualifying expenses. Once you have determined which deductions are available to you, you should then calculate the amount of each deduction and add them together to get your total deductions.