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Who qualifies to deduct expenses in the section for Reservists and Performing Artists?

If you are one of the individuals discussed below, special rules apply to deducting your employee business expenses. Any expenses you incurred while employed in one of the following should generally be deducted in the section...

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...

Ten Tips on Tax Credits for Child and Dependent Care Expenses

claiming the credit for child and dependent care expenses. 1. The care must have been provided for one or more qualifying persons. A qualifying person is your dependent child age 13 or younger when the care was provided. Additionally, your...

Tax Tips for Students and Parents Paying College Expenses

students and/or parents paying such expenses to keep receipts and to be aware of some tax benefits that can help offset college costs. Typically, these benefits apply to you, your spouse or a dependent for whom you claim an exemption...

What kinds of medical and dental expenses can or cannot be deducted?

If you itemize your deductions on Form 1040, Schedule A, you may be able to deduct expenses you paid for medical care – including dental – for yourself, your spouse, and your dependents. You may deduct only the amount by which your total...

Who can I pay medical expenses for using funds from my HSA or MSA?

Qualified medical expenses are those expenses that would generally qualify for the medical and dental expenses deduction. These are explained in Publication 502, Medical and Dental Expenses . However, even though non-prescription medicines...

Can I Deduct 50% or 80% of my Meals and Entertainment Expenses on my Schedule C?

The allowable amount of meal and entertainment expenses you are allowed to deduct on your Schedule C, whether it is 50% or 80%, is determined by the line of work you are in. For most taxpayers, the IRS allows you to only deduct 50% of your...

Should I report my education expenses as an Education Credit or as a Tuition and Fees Deduction?

the expenses to figure an Education Credit. Unfortunately, there is not one way that always works "best". For a large percentage of returns, though, the best tax benefit comes from using the expenses to figure an Education Credit...