Property-related Overlooked Tax Deductions

Property-related Overlooked Tax Deductions

This is a list of the top 50 most easily overlooked tax deductions. Not every item will be applicable to your situation.

Commission to brokers or agents for the sale of property or property management
Your moving expenses
Personal property taxes on cars, boats, etc.
General casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income
Miscellaneous Overlooked Tax Deductions Student loan interest
Special school costs for mentally or physically handicapped individuals
Worthless stock or securities
Fees for tax preparation or advice
Legal fees to collect taxable alimony or Social Security
Hobby expenses to the extent of hobby income you included in gross income
Services of a housekeeper, maid, or cook needed to run your home for the benefit of a qualifying dependent while you work
Penalty on early withdrawal of savings
Alimony paid, but not child support
State income taxes owed from a prior year and paid in the tax year
Fourth quarter estimated state taxes paid by December 31
Taxes paid to a foreign government
Mandatory contributions to state disability funds
Points paid on mortgage or refinancing
General sales tax deduction (including tax paid on large items such as cars or boats) in lieu of the income tax deduction
Cash and non-cash contributions to a qualified charity
Mileage incurred in performing charitable activities
Gambling losses to the extent of your gambling winnings