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Discussion
The purpose of this post is to establish a list of itemized deductions available to taxpayers. I hope to explore the deductions listed below in future postings. Note that in order to claim itemized deductions the aggregate amount of the itemized deductions must be in excess of the standard deduction ($6,350 single/married filing separately, $12,700 married filing jointly, and $9,350 head of household).
- Medical and Dental Expenses
- Deductible Taxes
- Home Mortgage Points
- Interest Expense
- Charitable Contributions
- Miscellaneous Expenses
- Business Use of Home
- Business Use of Car
- Business Travel Expenses
- Business Entertainment Expenses
- Work-Related Education Expenses
- Casualty, Disaster, and Theft Losses
References
https://www.irs.gov/taxtopics/tc500
Disclaimer
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties.