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Commonly Overlooked Tax Deductions Checklist

Possibly missed ways to save money on your personal income taxes.

Medical

  1. Check

    Health insurance premiums (for self-employed people, 100 percent deductible from gross income)

  2. Check

    Transportation expenses for trips to medical facilities or doctors’ offices

  3. Check

    Nursing home medical expenses

  4. Check

    Crutches, orthopedic shoes, etc.

  5. Check

    Hearing aids, eyeglasses, contact lenses

  6. Check

    Equipment for disabled individuals

  7. Check

    Alcohol- and drug-abuse programs and some stop-smoking treatments

  8. Check

    Nurses’ fees

  9. Check

    Weight-loss programs prescribed by a doctor

Business

  1. Check

    Education expenses to maintain or improve job skills

  2. Check

    Job-related professional journals and newspapers

  3. Check

    Required uniforms

  4. Check

    Union dues

  5. Check

    Employment agency fees or commissions

  6. Check

    Home office expenses (if you work from home)

  7. Check

    Expenses for job-seeking in your current field

  8. Check

    Reservist and National Guard overnight-travel expenses

  9. Check

    Cleaning and laundering services while traveling for business

  10. Check

    Cell phones required for business

Home

  1. Check

    Commissions for the sale of your home, or rental management if you rent it out

  2. Check

    Moving expenses

  3. Check

    Personal property taxes on cars, boats, etc.

  4. Check

    Casualty and theft losses

  5. Check

    Housekeeping or other home services needed for a qualifying dependent during your work hours

Charitable

  1. Check

    Donated clothing or other goods; note the estimated value (see “Valuation Guide” at goodwillpromo.org) on the receipt

  2. Check

    Mileage incurred while performing charitable activities

  3. Check

    Cost of meals, accommodations, public transportation, and parking when volunteer work sends you far from home—if you pay for them out of your own pocket.

Educational

  1. Check

    Hope and Lifetime Learning credits (a type of federal financial aid for college tuition that gives tax credit instead of tuition payment)

  2. Check

    Student loan interest

Finances

  1. Check

    Investment-related expenses

  2. Check

    Refinancing points on a mortgage

  3. Check

    Accounting or legal fees involved with taxes

  4. Check

    Cost of safe deposit box used for investments or business

  5. Check

    Penalty on early withdrawal of savings

  6. Check

    Alimony

Other

  1. Check

    Care provided for disabled children or spouse (Child and Dependent Care Credit)

  2. Check

    Clean fuel credit for purchase of hybrid car

  3. Check

    Jury duty pay reimbursed to employer

  4. Check

    Some gambling losses