- Tuition and Fees Deduction
You can deduct up to $4,000 in tuition for qualifying higher education you paid for yourself, your spouse, or a dependent in 2016.
- Cash Donations
IRS-approved cash donations to charities can be deducted for up to 50% of their adjusted gross income.
- Noncash Donations
If you itemize your list, you can claim the fair market value of household items and clothing you donated.
- Donating Time and Expertise
You can deduct the cost of gas and oil from trips to and from your volunteer locations.
- Job Search Expenses
If you itemize your list, expenses incurred from your job search can be deducted such as transportation, printing, and mailing.
- Relocating for a Job
If you meet the IRS distance and time tests after moving for a new job, you can utilize the moving expense deduction. This includes the costs of moving belongings and traveling to your new home and the cost of lodging for household members.
- Tax Prep Fees
Whether you paid someone to do your taxes or you completed them on your own, you can include those fees in your miscellaneous tax deductions list if the fees total more than 2% of your adjusted gross income.
- Home Renovation Deduction
Typically, expenditures for home improvement are not deductible. However, if the improvements made are for medical purposes, you can deduct those renovations as medical expenses.
- Home Business Expenses
Expenses incurred while using your home as the primary location for your business can be deducted.
- Business Travel Expenses
You may be able to deduct expenses incurred during business travel that were not reimbursed by your employer.
- Educational Expenses
Up to $2,500 can be deducted for students who attended post-secondary education for four years under the American Opportunity Tax Credit.
- Hobby Expenses
If you suffered a net loss from a hobby, it may be deductible.
- Safety Deposit Box
Safety-deposit box fees for storing documents related to tax investments are deductible.
- Gambling Losses
Losses from gambling may be deductible up to the amount of gambling income you reported.
- Theft and Disaster
Household items and vehicles that are not covered by insurance are deductible.
- Self-Employment Health Insurance Expenses
Premiums paid for medical and dental insurance are deductible for self-employed taxpayers.
- Personal Exemptions and Dependents
Up to $4,050 can be deducted for personal exemptions and dependents.
- State Return Taxes
Additional taxes for a prior year’s tax return paid in the 2016 year makes you eligible for a deduction.
- 401k Contributions
The money you contribute to your 401k from income you claimed on your federal returns in deductible.
- Union Dues
You are able to deduct union dues and initiation fees from taxable income.
- Work Apparel
Clothing such as costumes and uniforms that are not suitable for everyday use can be deducted.
- Senior Tax Deduction
If you and your spouse were 65 or older in 2016, you are eligible for a higher standard deduction.
- Car Registration Expenses
Vehicle registration fees may be eligible for deduction.
- Jury Duty
If you gave your jury duty payment to your employer because he continued to pay you, you can deduct jury pay from your taxable income.
- Earned Income Tax Credit
EITC is a refundable tax credit intended to supplement income, ranging from $510 – $6,318.
- Deduction for Bad Debt
You may be qualified for a tax rebate if money was lent that you never were reimbursed for.
- Sales Tax
Taxpayers can choose to deduct either state and local income taxes or state and local general sales taxes.