Itemized deductions refer to a type of tax deduction that allows individuals or businesses to deduct specific expenses from their total income, thereby reducing their overall taxable income. These deductions are itemized on Schedule A of Form 1040 and include various categories such as mortgage interest, state and local taxes, charitable contributions, medical expenses, and miscellaneous deductions. To claim these deductions, individuals must provide detailed information about each expense, including the amount paid and a description of the item or service. Itemized deductions are generally more advantageous than standard deductions because they allow for greater tax savings, especially for those with high mortgage payments, significant charitable contributions, or substantial medical expenses.