Itemized Deductions Checklist - Affordable Tax Service
[Pages:1]Itemized Deductions Checklist
Medical Expenses
Medical expenses are generally deductible if they exceed 7.5% of your income. Some common medical expenses:
Doctor/Dentist Fees
Life-Care Fees for Medical
Psychiatric Care
Drug/Alcohol Treatment
Treatment
School and/or Home for
Cost of Guide Dogs
Long-term Care Insurance
Disabled
Handicap Access Devices for
Premiums
Smoking Cessation Program
Disabled
Meals/Lodging Related to
Cost
Hospital Fees
Hospital Stays
Special Life Items (glasses,
Insurance Premiums
Medical Devices
limbs, dentures, wheelchairs,
Prescriptions
Operations
hearing aids, contacts, etc.)
Laser Eye Surgery
Organ Donation
Transportation (Medical
Lead Based Paint
Physician Diet/Health
related)
Removal Cost
Programs
Weight Loss Program Costs
Taxes
The following taxes are generally 100% deductible ? but capped at $10,000 for MFJ & S and $5,000 for MFS for 2018:
State/Local Taxes
Real Estate Taxes
Property Taxes
Value Based Auto License Fee
Payments to Mandatory State Funds
General State/Local Sales Tax
Foreign Income Taxes
Interest Expense
Most personal interest is non-deductible; the following is a list of deductible interest expenses:
Home Mortgage Interest
Business Interest
2nd Home Mortgage Interest
Investment Interest
Mortgage Loan Interest Premiums Covering
"Points" Paid
Mortgages Purchased in 2007 & beyond
FOR 2018 ? NO HOME EQUITY LOAN INTEREST
Interest on Special Assessments (as real estate tax)
Charitable Contributions
Cash and property are generally deductible if donated to qualified organizations. These include:
Churches
War/Veterans Groups
Non-Profit Schools
Agencies such as: Red Cross, Salvation Army,
Non-Profit Hospitals
Goodwill, United Way, & etc.
Public Parks
YMCA
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. For 2018 this deduction is only allowed if in a presidential disaster area.
Fire
Car Accident
Theft
Vandalism
Natural Loss: Tornado, Hurricane, Flood, etc.
Other Accidents
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
IRA/KEOGH Administration
Gains
Gains
Fees
Handicapped Job Related
50% of Business Related
Business Use Depreciation
Expenses
Meals; Entertainment
Certain Legal Fees
Work Uniforms
Classroom Material Expense
Trust Administration Fees
Un-recovered Annuity Costs
for Teachers
Job Required Medical Exams
Job Hunting Expenses
Repayments of Income
Job Required Education
Safe Deposit Box Cost
Repayments of Social
Expenses
Tax Preparation Fees
Security
A NUMBER OF THESE
Employee Business Expenses
Investment Related Expense
WILL BE DISALLOWED
In-Home Office Expenses
FOR THE 2018 TAX YEAR
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