Deductions / Itemized Deductions

Schedule 1-A Additional Deductions

Each deduction is subject to a limitation based on Modified AGI (MAGI).

Claiming Expenses for Hosting an Exchange Student

Expenses are not deductible in a mutual exchange program, wherein two families exchange children.

Charitable Contributions if Standard Deduction Taken

The $300 limit is for all filing statuses.

Deductions Menu - 2021 and forward

Standard Deduction - This menu line shows the calculated Standard Deduction for this return.

Schedule A - Itemized Deductions Menu

QBID in a Trust or Estate return (Form 1041)

The Qualified Business Income Deduction (QBID), also known as Section 199A deduction, was enacted as part of the Tax Cuts and Jobs Act (TCJA) of 2017.

Form 8995 / 8995-A - Qualified Business Income Deduction

Forms 8995 and 8995-A are used to calculate the QBID.

Other Itemized Deductions Menu

In addition to the expenses that flow in from elsewhere in the return, only the following expenses can be entered in Schedule A as an "other itemized deduction".

Miscellaneous Itemized Deductions subject to 2% AGI Limitation

Beginning in 2018, all miscellaneous itemized deductions subject to the 2% of Adjusted Gross Income limitation were eliminated.

Form 4684 - Casualties and Thefts

The treatment of a casualty on the tax return depends on the tax year in which the loss occurs, and there are special provisions for certain federally declared disasters in 2016 and 2017.

Schedule A - Gifts to Charity

Charitable contributions are deductible when the taxpayer itemizes deductions on Schedule A (Form 1040).

Schedule A - Interest You Paid

Interest paid is deductible in many cases if the taxpayer was legally liable for the debt.

General Sales Tax Deduction

If a taxpayer itemizes deductions, they can choose to deduct state and local income taxes or state and local general sales taxes.

Schedule A Taxes You Paid Menu

With the 2017 Tax Cuts and Jobs Act the deduction for state and local taxes paid to include state income tax, general sales tax, real estate tax and personal property tax is limited to $10,000 ($5,000 if married filing separately).

Medical & Dental Expenses

Qualified medical expenses that were paid during the year for the taxpayer, their spouse and their dependents are deductible on Schedule A to the extent that they were not reimbursed.

Deductions Menu