If total tax deductions are greater than the standard deduction allowed by the IRS,you can itemize or list them on Form 1040,thus reducing your overall income tax bill.This is known as:

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Itemized deductions allow you to list specific tax deductions that exceed the standard deduction, such as charitable donations or mortgage interest, in order to reduce your overall income tax bill. Adjusted gross income is the amount of income you have after certain deductions, but it does not directly reduce your tax bill. A tax credit is a direct reduction of your tax bill, but it is not related to itemizing deductions. An exemption is a deduction for each individual claimed on your tax return, but it does not involve itemizing deductions either.

If Total Tax Deductions Are Greater Than the Standard Deduction