The following list will serve as a reminder of some deductions you can easily overlook when you prepare your return. It is not intended to be all-inclusive, nor applicable to everyone. The circumstances of your situation will determine whether you qualify. See the chapter reference following each item for a complete explanation.
| 1 |
Accounting fees for tax preparation services and IRS audits. (Chapter 30) |
|
26 |
Impairment-related work expenses for a disabled individual (Chapter 30) |
| 2 |
Alcoholism and drug abuse treatment (Chapter 23) |
|
27 |
Improvements to your home (Chapter 16) |
| 3 |
Amortization of premium on taxable bonds (Chapter 30) |
|
28 |
Investment advisory fees (Chapter 30) |
| 4 |
Appraisal fees for charitable donation or casualty losses (Chapters 26, 27) |
|
29 |
IRA trustee's administrative fees billed separately (Chapter 30) |
| 5 |
Appreciation on property donated to a charity (Chapter 26) |
|
30 |
Lead paint removal (Chapter 23) |
| 6 |
Casualty or theft losses (Chapter 27) |
|
31 |
Legal fees incurred in connection with obtaining or collecting alimony
(Chapter 30) |
| 7 |
Cellular telephones (Chapter 30) |
|
32 |
Long-term care insurance premiums (Chapter 23) |
| 8 |
Cleaning and laundering services when traveling (Chapter 28) |
|
33 |
margin account interest expense
(Chapter 25) |
| 9 |
Commissions and closing costs on sale of property (Chapter 14) |
|
34 |
Medical transportation, including standard mileage deduction (Chapter 23) and lodging expenses incurred for medical reasons while away from home (Chapter 29) |
| 10 |
Contact lenses, eyeglasses, and hearing devices (Chapter 23) |
|
35 |
Mortgage prepayment penalties and late fees (Chapter 25) |
| 11 |
Contraceptives, if bought with a prescription (Chapter 23) |
|
36 |
Out-of-pocket expenses relating to charitable activities, including the standard milage deduction. |
| 12 |
Costs associated with looking for a new job in your present occupation, including fees for resume preparation and employment of outplacement agencies (Chapter 30) |
|
37 |
Health insurance premiums if self-employed (Chapter 39) |
| 13 |
Depreciation of home computers (Chapter 30) |
|
38 |
Penalty on early withdrawal of savings (Chapter 8) |
| 14 |
Dues to labor unions (Chapter 30) |
|
39 |
Personal liability insurance for wrongful acts as an employee (Chapter 30) |
| 15 |
Education expenses to the extent required by law or your employer or needed to maintain or improve your skills (Chapter 30) |
|
40 |
Points on a home mortgage and certain refinancings (Chapter 25) |
| 16 |
Employee contributions to a state disability fund (Chapter 24) |
|
41 |
Protective clothing required at work (Chapter 30) |
| 17 |
Employee's moving expenses (Chapter 19) |
|
42 |
Real estate taxes associated with the purchase or sale of property (Chapter 24) |
| 18 |
Federal estate tax on income with respect to a decedent (Chapter 30) |
|
43 |
Seller-paid points on the purchase of a home (Chapter 25) |
| 19 |
Fees for a safe-deposit box to hold investments (e.g., stock certificate)(Chapter 30) |
|
44 |
Special equipment for the disabled (Chapter 23) |
| 20 |
Fees paid for childbirth prepartion classes if instruction relates to obstetrical care (Chapter 23) |
|
45 |
Special schools and separately stated fees for medical care included in tuition (Chapter 23) |
| 21 |
Fifty percent of self-employment tax (Chapter 1) |
|
46 |
State personal property taxes on cars and boats (Chapter 24) |
| 22 |
Foreign taxes paid (Chapter 24) |
|
47 |
Subscriptions to professional journals (Chapter 30) |
| 23 |
Foster child care expenditures (Chapter 13) |
|
48 |
Theft or embezzlement losses (Chapter 27) |
| 24 |
Gambling losses to the extent of gambling winnings (Chapter 30) |
|
49 |
Trade or business tools with life of 1 year or less (Chapter 30) |
| 25 |
Hospital services fees (laboratory work, therapy, nursing services, and surgery) (Chapter 23) |
|
50 |
Worthless stock or securities (Chapter 15) |
