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New York Itemized Deductions

The starting point in computing your New York Itemized Deduction amount is your federal itemized deductions from federal Schedule A. However, differences between federal and New York State tax laws make it necessary to make certain...

Job Search Expenses and Deductions

for a job for the first time, you cannot deduct the cost of your job search expenses. You usually will claim job search expenses as a miscellaneous itemized deduction. You can deduct only the amount of your total miscellaneous deductions...

What are the qualifications for "miscellaneous deductions"?

used for investments. Excess deductions (including administrative expenses) allowed a beneficiary on termination of an estate or trust. Fees to collect interest and dividends. Hobby expense, but generally not more than hobby income. Indirect...

Itemized Deductions - Qualified Contributions

described in section 509(a)(3)). Qualified contributions are not subject to the overall limitations on itemized deductions or the 50% adjusted gross income limitation. Qualified contributions do not include contributions to organizations...

An Overview of Deductions for Gifts to Charity

the tax year, you can enter these under: Federal Section > Deductions > Enter Myself > Itemized Deductions > Gifts to Charity. Organizations that Qualify You can deduct contributions or gifts you gave to organizations that are religious...

Virginia Deductions from Income

The following entries show as deductions on your return. Please note the Code number on the item, as this will appear on your VA 760-CG under Deductions Foster Care Deduction – Code 102 Foster parents may claim a deduction of $1,000...

Miscellaneous Deductions - What is the 2% rule?

If you itemize your deductions, part of the expenses that you claim as deductions may be limited by the 2% rule. Deductions that are included are unreimbursed employee expenses, expenses claimed on Form 2106, tax preparation fees, safety...

Overview of Deductions for Taxes You Paid

There are four types of non business taxes that the IRS will allow you to deduct if you are itemizing your deductions. These include: State, local, and foreign income taxes, Real estate taxes, Personal property taxes, and State and local...

Examples of deductions and credits that are available in TaxSlayer

this in our program go to Deductions > Enter Myself > Itemized Deductions > Less Common Deductions > Casualties and Losses. Elderly or Disabled Credit: You may be eligible for this tax credit if, on December 31 of last year, you or your spouse...

Can I Claim Tax Preparation Fees with my Itemized Deductions?

Yes. The IRS allows you to claim your tax preparation fees on your tax return. Enter the fees you paid for preparation of your tax return, including fees paid for filing your return electronically. Enter the fees within the Deductions...