Repeat your calc for a homeowner with a $24,000 itemized deduction ...
Most homeowners barely go over standard deductions due to low interest rates today. If you had a $120k loan (probably max for a couple making $40k), your interest is about $4k/year to start and falls off quickly. Assuming $2k property tax and $2k state tax, you’d have $8k to itemize, excluding donations. With standard deduction at $12.6k today, you’d have to donate at least $4.6k for that to even change the equation. Only reason this will be “neutral” for me is I make a lot so I have a high state income tax I get to deduct as well. But with the other tax brackets coming down and corp taxes dropping massively (good for my stocks), it’s still very net positive.