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Business Use of Your Home - What expenses can be deducted?

There are 2 types of expenses that you can deduct: Direct Expenses and Indirect Expenses. Direct Expenses are those expenses that are paid only for the business part of your home. For example, if you pay for painting or repairs only...

What qualified education expenses can I use on my return?

Generally, the only expenses that qualify are the tuition and the fees that are required for enrollment or attendance at any accredited college, vocational school, or other post-secondary educational institution eligible to participate...

What can be deducted as "Personal Property Rental Expenses"?

You can only take a deduction for Personal Property Rental Expenses if you reported Other Income that was from the rental of personal property ( if you engaged in the rental for profit but were not in the business of renting such property...

How do I report qualifying education expenses that I paid with a 1099-Q distribution?

If you contributed to a Coverdell ESA (CESA) or a Qualified Tuition Program (QTP), you may have received a distribution from your account during the year to help pay for qualified education expenses. If so, you should have received a Form...

Why is there a separate section for travel expenses for Reservists and Performing Artists?

Generally, employee expenses are deductible only on line 21 of Schedule A (Form 1040). When you deduct your expenses on line 21 of Schedule A, the net deduction is limited by the 2% rule. In addition, the expenses can only be deducted...

Are My Child's Summer Camp Expenses Tax Deductible?

The answer is.... maybe. Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. But, the IRS has some good news for parents: those added expenses may help you qualify for a tax credit. Many parents...

Example of how to report Qualified Education Expenses involving a 1099-Q

Dave received a 1099-Q for a distribution that he received from his QTP (Qualified Tuition Program). His gross distribution (box 1) was $5000 and his earnings (box 2) were $1500. Throughout the year, he paid qualifying expenses totalling...

Whose medical expenses can I deduct on my return?

You can include in your deduction for Medical and Dental Expenses any qualifying medical and dental bills you paid for: Yourself and your spouse. All dependents you claim on your return. Your child that you do not claim as a dependent...

Please explain deductions that are available related to Medical Expenses.

Medical and dental expenses, such as doctor visits, health insurance, glasses, etc.: Generally, you are allowed a deduction for most of the medical expenses that you paid during the tax year. However, you cannot include any part...

Why isn't my credit for dependent care expenses showing up?

This article is intended for users who are attempting to take the Credit for Dependent Care Expenses, but it does not appear to be calculating on their return. If you did not pay for child care expenses, no credit should be calculating...