 Income tax 2023-2024. Itemized deductions, other itemized deductions. Get ready and some coffee because we're providing inspiration about income tax preparation. 2023-2024. Most of this information can be found in the instructions for Schedule A, Tax Year 2023, which you can find on the IRS website at irs.gov, irs.gov. Looking at the income tax formula, focused on what I would call the below the line deductions, more specifically the itemized deductions. Remember in the first half of the income tax formula is a funny income statement. Most income statements having income minus expenses resulting in net income here having income minus deductions resulting in taxable income. Noting deductions for taxes are good. We're typically looking for more of them. The differences between the above the line deductions or adjustments to income and the below the line deductions including the fact that the adjustments to income do not need to clear a hurdle before the taxpayer gets a benefit from them. Whereas the itemized deductions do need to clear the hurdle of the standard deduction before the taxpayers get a benefit from them.