Do you know which tax deductions you can claim on your federal income tax return? If not, don't worry – we have a checklist to help you out. Our Itemized Deductions Checklist Form is a comprehensive guide that will walk you through the most popular deductions. Keep in mind that this list is not exhaustive, so be sure to consult with a tax professional to see if there are any other deductions available to you.
This figure holds information about itemized deductions checklist. You will have the projected time you will need to complete the form and some additional details.
| Question | Answer |
|---|---|
| Form Name | Itemized Deductions Checklist |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | checklist for tax deductions, tax deduction checklist pdf, list of tax deductions, tax deduction checklist |
Itemized Deductions Checklist
Medical Expenses
Medical expenses are generally deductible if they exceed 10% of your income or 7.5% of your income if you are over the age of 65.
Some common medical expenses: |
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Doctor/Dentist Fees |
Psychiatric Care |
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Drug/Alcohol Treatment |
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Treatment |
□ School and/or Home for |
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□ Cost of Guide Dogs |
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Disabled |
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□ Handicap Access Devices for |
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Premiums |
Smoking Cessation Program |
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Disabled |
Meals/Lodging Related to |
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Cost |
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Hospital Fees |
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Hospital Stays |
□ Special Life Items (glasses, |
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Insurance Premiums |
Medical Devices |
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limbs, dentures, wheelchairs, |
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Prescriptions |
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Operations |
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hearing aids, contacts, etc.) |
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Laser Eye Surgery |
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Organ Donation |
Transportation (Medical |
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Lead Based Paint |
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Physician Diet/Health |
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related) |
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Removal Cost |
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Programs |
□ Weight Loss Program Costs |
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Taxes |
The following taxes are generally 100% deductible: |
□ Real Estate Taxes |
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State/Local Taxes |
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Property Taxes |
□ Value Based Auto License Fee |
□ Payments to Mandatory State Funds |
□ General State/Local Sales Tax |
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□Foreign Income Taxes
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Interest Expense |
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Most personal interest is |
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Home Mortgage Interest |
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Business Interest |
□ 2nd Home Mortgage Interest |
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Investment Interest |
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Mortgage Loan Interest Premiums Covering |
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“Points” Paid |
Mortgages Purchased in 2007 & beyond
□Interest on Special Assessments (as real estate tax)
Charitable Contributions
Cash and property are generally deductible if donated to qualified organizations. These include:
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Churches |
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War/Veterans Groups |
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□ Agencies such as: Red Cross, Salvation Army, |
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Goodwill, United Way, & etc. |
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Public Parks |
YMCA |
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□Boy & Girl Scouts
□Some Environmental/Conservation Groups
Casualty & Theft Losses
Casualty and theft losses are generally deductible to the extent they exceed 10% of your adjusted gross income, are not reimbursable
by insurance, and each event exceeds $500. |
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Fire |
Car Accident |
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Theft |
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Vandalism |
□ Natural Loss: Tornado, Hurricane, Flood, etc. |
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Other Accidents |
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Miscellaneous Deductions
Most of the following miscellaneous deductions are only deductible to the extent they exceed 2% of your adjusted gross income.
□ Gambling Losses to Offset |
□ Hobby Expense to Offset |
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Gains |
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Gains |
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IRA/KEOGH Administration |
Handicapped Job Related |
□ 50% of Business Related |
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Fees |
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Expenses |
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Meals; Entertainment |
Business Use Depreciation |
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Work Uniforms |
Classroom Material Expense |
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Certain Legal Fees |
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for Teachers |
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Trust Administration Fees |
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Job Hunting Expenses |
Repayments of Income |
□ Job Required Medical Exams |
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□ Safe Deposit Box Cost |
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Repayments of Social |
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Job Required Education |
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Tax Preparation Fees |
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Security |
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Expenses |
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Employee Business Expenses |
Investment Related Expense |
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