Most Forgotten Deductions

Medical Expenses

  • Nursing help (including your share of the employment taxes paid).
  • The supplemental part of Medicare insurance (Medicare B).
  • The premiums you pay for Medicare Part D insurance.
  • Programs to stop smoking and for prescription medicines to alleviate nicotine withdrawal.
  • A weight-loss program as treatment for a specific disease (including obesity) diagnosed by a doctor.
  • Surgery to improve defective vision, such as laser eye surgery or radial keratotomy.
  • Travel expenses incurred such as gas and oil to go to and from the place you received care.
  • Lodging expenses (but not meals) while away from home to receive medical care in a hospital or medical care facility.
  • Medical treatment at a center for drug and alcohol addiction.
  • Medical aids such as eyeglasses, contact lenses, hearing aids, braces, crutches, wheelchairs, and guide dogs (including the cost of maintaining them).

Un-reimbursed Employee Expenses

  • Safety equipment, small tools, and supplies needed for your job.
  • Uniforms required by your employer that are not suitable for ordinary wear.
  • Protective clothing required in your work, such as hard hats, safety shoes, and glasses.
  • Physical examinations required by your employer.
  • Dues to professional organizations and chambers of commerce.
  • Subscriptions to professional journals.
  • Travel, transportation, meal, or entertainment expenses for your job.
  • Cellular phone required for your job.
  • Educator expenses that are more than you can deduct as an adjustment to income.
  • Home office or part of your home used regularly and exclusively in your work.
  • Malpractice insurance premiums.
  • Occupational taxes.
  • Research expenses of a college professor.
  • Passport for a business trip.
  • Laboratory breakage fees.
  • Licenses and regulatory fees.
  • Business bad debt of an employee.
  • Business liability insurance.
  • Job search expenses in your present occupation.
  • Damages for breach of employment contract.

Property Expenses

  • Real estate taxes paid on property that you own but not used for business.
  • Personal property taxes paid on your car, boat, etc.
  • Home mortgage interest on your main home or second home.
  • Points you paid to borrow money.
  • Qualified mortgage insurance premiums paid under a mortgage insurance contract.
  • Investment interest, or interest paid on money you borrowed that is allocable to property held for investment.

General Expenses

  • Cash and non cash contributions given to qualified charitable organizations.
  • Casualty and theft losses.
  • Appraisal fees for a casualty loss or charitable contribution.
  • Tax preparation fees.
  • Gambling losses to the extent of gambling winnings.
  • Certain legal and accounting fees.
  • Educator expenses up to $250 of qualified expenses.
  • Moving expenses in connection with your job or business.
  • Self-employed health insurance deduction.
  • One-half of self-employment taxes.
  • Penalty on early withdrawal of savings.
  • Alimony paid (not child support).
  • IRA contributions to a traditional fund.
  • Student loan interest paid to a qualified loan.
  • Safe deposit box used for investments or business.
  • Hobby expenses only up to extent of hobby income.
  • Fees to collect interest dividends.
  • Loss on deposits in an insolvent or bankrupt financial institution.
  • Trustee’s fees for your IRA, if billed and paid separately.
  • Clerical help and office rent in connection with your investments.