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What are "qualifying education expenses"?

For purposes of the student loan interest deduction , these expenses are the total costs of attending an eligible educational institution, including graduate school. They include amounts paid for the following items. * Tuition and fees

Please explain all of the deductions and credits that are available related to my job.

employer, and * You must not rent any part of your home to your employer and use the rented portion to perform services as an employee for that employer Traveling expenses: If you traveled for your job, many of the expenses you incurred may

Examples of other Job related expenses:

Examples of other job related expenses may include the following: * Safety equipment, small tools, and supplies needed for your job. * Uniforms required by your employer that are not suitable for ordinary wear. * Protective clothing

If you moved into Virginia, enter Moving Expenses

Moving expenses entered on your Federal return are deductible on your Virginia return. Enter in the total moving expenses claimed as an adjustment to income on Federal Form 1040. If you moved to Virginia , claim the moving expenses

Itemized Deductions - An Overview

from fire, storm, shipwreck, or other casualty or theft (for example, larceny, embezzlement, and robbery). For more information on this credit please Click here. Unreimbursed Employee Business Expense and Form 2106 Common employee business

Maryland Use of Vehicle for Charitable Purposes (Form 502V)

You may subtract from federal adjusted gross income unreimbursed automobile travel expenses incurred in connection with a service as a volunteer for a nonprofit volunteer fire company or other "qualified" organization. A qualified

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

What are "Qualified Medical Expenses" for an MSA?

When filing Form 8853 for an Archer MSA Deduction, you are required to figure the limitation that applies to you in regard to how much of a deduction you are eligible to report. The IRS provides a worksheet to calculate the amount of this limitation. It is located within the instructions for Form 8853. The link below is a link directly to the IRS instructions for Form 8853. Before filling out the worksheet, read the brief instructions for "Line 3" on page 3 by working through the Limitation Chart and Worksheet for each month of the year. These instructions list exceptions that can affect how the worksheet gets filled out. To ensure that the worksheet gets completed correctly, be sure to read the "Line 3" instructions. The worksheet that must be completed is on page 3 of the instructions. Complete this worksheet and retain a copy for your records. Once this worksheet has been finished, you can properly complete Form 8853 for your Archer MSA Deduction. Form 8853 can be found within TaxSlayer by going to Federal Section > Deductions > Adjustments > Medical Savings Account. Form 8853 Instructions and limitation worksheet To view this document, you must have Adobe Acrobat Reader installed on your computer. If you do not have an updated version of Adobe, click here to download it for free from the Adobe website.

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

How do I calculate the amount of qualified expenses?

You should have received a Form 1098-T from your school. You will need this form in order to calculate the qualified expenses that you can claim. According to the IRS you must reduce any amount of qualified expenses by the amount you