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What are "Qualified Medical Expenses"?

be used on one form. The same expense cannot be used as a deduction on a Schedule A and for the purposes of the HSA deduction. What expenses are included in the entry for "unreimbursed qualified medical expenses"? In general, your entry

What is the difference between "Direct Expenses" and "Indirect Expenses"?

There are 2 types of expenses that you can deduct related your home office/business: Direct Expenses and Indirect Expenses. * Direct Expenses: Direct expenses are those expenses that are paid only for the business part of your home

What expenses cannot be deducted as "moving expenses"?

The IRS allows you to deduct several types of Moving Expenses, however, the list below reflect items the IRS DOES NOT allow as a valid Moving Expense deduction: * Any part of the purchase price of your new home. * Car tags. * Driver's

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

What expenses can I deduct as "moving expenses"?

You can deduct the reasonable expenses of moving your household goods and personal effects and of traveling from your old home to your new home. Reasonable expenses can include the cost of lodging (but not meals) while traveling to your

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.

Unreimbursed Employee Expenses - What CANNOT be deducted?

If you paid for expenses related to your job during the tax year, many of these expenses may be eligible to be deducted on your return. For you to be able to deduct the expense, it must be a common, helpful, and appropriate expense

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

Unreimbursed Employee Expenses - What can be deducted?

If you paid for expenses related to your job during the tax year, many of these expenses may be eligible to be deducted on your return. For you to be able to deduct the expense, it must be a common, helpful, and appropriate expense

Deduction for Educator Expenses

year as a teacher, instructor, counselor, principal, or aide. What can you deduct? You may subtract up to $250 of qualified expenses when figuring your adjusted gross income (AGI). Qualified expenses are unreimbursed expenses you paid