+ Top 50 Overlooked Tax Deductions
- Student loan interest
- One-half of self-employment tax paid
- Adjustment on Form 1040 of health insurance premiums for some self-employed persons
- Penalty on early withdrawal of savings
- Alimony paid (does not include child support)
- Medical transportation - including tolls, parking, and the standard mileage deduction of 23 cents per mile for visiting doctors and dentists and picking up medicine
- Nursing home expenses that are primarily for medical care
- Medical aids such as crutches, canes, and orthopedic shoes
- Hearing aids, eye glasses, and contact lenses
- Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays
- Equipment for disabled or handicapped individuals
- Part of life-care fee paid to retirement home designated for medical care
- The cost of alcohol, drug abuse, and certain stop-smoking treatments
- Special school costs for mentally or physically handicapped individuals
- Wages for nursing service
- State income taxes owed from a prior year and paid in the current tax year
- Payment by December 31 of last quarter estimated state taxes
- Personal property taxes on cars, boats, etc.
- Taxes paid to a foreign government
- Mandatory contributions to state disability funds
- Points paid on mortgage or refinancing
- Property donated to a recognized charity
- Cash contributions to a recognized charity
- Mileage incurred in relation to charitable activities at 14 cents per mile
- Casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income
- Education expenses paid to maintain or improve job skills
- A handicapped individual's work-related expenses
- Professional journals, magazines, and newspapers that are job-related
- Cost of safe deposit box used for investments or business
- Seeing eye dog or guard dog for business
- Required uniforms and work clothes not suitable for street wear
- Union dues
- Employment agency fees or commissions
- Home office expenses, if primary place of business
- Job-seeking expenses within present field of employment including agencies, resume preparation, parking and tolls, long distance charges, and travel expenses
- New business start-up costs
- Dues to professional organizations
- Business gifts up to $25 per customer or client
- Employment-related moving expenses
- Business expenses including travel, meals, lodging, and entertainment not reimbursed by your employer
- Cleaning and laundering services while traveling for business
- Tools bought for use at your job
- Cellular phones required for business
- Worthless stock or securities
- Commission to brokers or agents for sale of property or property management
- Fees for tax preparation or advice
- Legal fees to collect taxable alimony
- Expenses up to $50 per month for an exchange student living with you
- Services of a housekeeper, maid, or cook needed to run your home for the benefit of a qualifying dependent while you work
- Gambling losses to the extent of winnings
+Medical-related Overlooked Tax Deductions
- Medical transportation expenses including tolls, parking, and mileage for trips to health facilities, doctor's offices, laboratories, etc.
- Nursing home expenses that are primarily for medical care
- Medical aids such as crutches, canes, and orthopedic shoes
- Hearing aids, eye glasses, and contact lenses
- Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays
- Equipment for disabled or handicapped individuals
- Part of the life-care fee paid to a retirement home designated for medical care
- The cost of alcohol and drug abuse programs, and certain smoking-cessation treatments
- Wages for nursing services
+Job-related Overlooked Tax Deductions
- Education expenses you paid to maintain or improve job skills
- A handicapped individual's work-related expenses
- Professional journals, magazines, and newspapers that are job-related
- Cost of safe deposit box used for investments or business
- Seeing-eye dogs for the handicapped or guard dogs for a business
- Required uniforms and work clothes not suitable for street wear
- Union dues
- Employment agency fees or commissions in certain cases
- Home office expenses, if for your primary place of business
- Job-seeking expenses within your present field of employment
- Reservist and National Guard overnight travel expenses
- Dues to professional organizations
- Business gifts up to $25 per customer or client
- Business expenses including travel, meals, lodging, and entertainment not reimbursed by your employer
- Cleaning and laundering services while traveling for business
- Tools for use at your job
- Cellular phones required for business
- Half of the self-employment tax paid
- Self-employed health insurance premiums
+Property-related Overlooked Tax Deductions
- Commission to brokers or agents for the sale of property or property management
- Your moving expenses
- Personal property taxes on cars, boats, etc.
- General casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income
+Miscellaneous Overlooked Tax Deductions
- Student loan interest
- Special school costs for mentally or physically handicapped individuals
- Worthless stock or securities
- Fees for tax preparation or advice
- Legal fees to collect taxable alimony or Social Security
- Hobby expenses to the extent of hobby income you included in gross income