These activities can be itemized as deductions if you have plans to sell or buy a home this summer or to donate some old items. Here are some examples:
If you are refinancing your home this summer, you can deduct some of your mortgage interest. However, there are some limits to these deductions. According to the IRS, the deduction is limited to interest paid on a loan secured by the taxpayer’s primary or secondary residence. When refinancing, you must use the loan to purchase, build, or substantially improve your primary or secondary residence.
If you buy a new home this summer, you can deduct mortgage insurance if you pay $750,000 in qualifying debt for a first and second home, or $375,000 when married and filing separately.
Summer is an ideal time to sort through your belongings and donate any unwanted clothes, furniture, or household goods. If you itemize the deductions and provide proof of the donations, these donations may qualify for a tax deduction.
In addition to donating items, you can deduct mileage on your vehicle for services performed for a qualifying charity.
This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.
Tip adapted from IRS.gov10
Footnotes And Sources
10. IRS.gov, November 3, 2025
