Tax Deductions

Your Home

~ Fees for investment advice
~ Subscriptions for investment-related publications
~ Travel to manage investment property
~ Capital losses
~ Loss for worthless investments
~ Suspended passive losses
~ Interest expense (limited)
~ Penalty for early withdrawal of savings
~ Contribution to traditional IRA
~ Contribution to Keogh, SEP, or SIMPLE plan
~ IRA trustee fees, if billed and paid separately
~ Amortization of premiums on taxable bonds
~ Fee for safe deposit box

Your Work

~ Union and professional dues
~ Continuing professional education expenses
~ Job-related education expenses
~ Job hunting travel and phone expenses
~ Job counseling fees
~ Employment agency fees
~ Resume preparation costs
~ Small tools used in your job
~ Uniforms or special work clothing
~ Child care costs while you work, seek work, or attend
classes
~ Unreimbursed employee business expenses such as business travel, business meals, and business entertainment
~ 50% of self-employments tax

Your Investments

~ Mortgage interest
~ Real estate taxes
~ Points paid by you on a new home loan
~ Points paid by seller on your behalf
~ Points paid on refinancing (pro rata over life of loan)
~ Remaining undeducted points on 1st refinancing when you refinance a second time
~ Home office expenses, if you quality
~ Home improvements done for medical reasons, to extent home’s value isn’t increased
~ Costs of moving to a new home, if your move is job-related and meets qualifications