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Unlike the standard deduction, itemized deductions result in different taxable income amounts from person to person. Those who qualify for the standard deduction have the leeway to choose the itemized route; however, individuals who are not eligible for the standard deduction can only itemize their tax deductions.
Usually, an itemized deduction is limited to a certain percentage of adjusted gross income. As an alternative to standard deduction, an itemized deduction requires taxpayers to keep track of each possible tax-reducing expense throughout the year. Individuals who frequently spend large amounts on medical care, state and local taxes, donations or other deductible expenses may be better off itemizing.