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What all can you itemize on your taxes

what all can you itemize on your taxes


Best Answer: There are many things that can be itemized, too many to list all here. If you don't have a home mortgage, you may still want to itemize if you have one or more of the following:

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There are a huge number of things you can take as deductions if you itemize, but there are drawbacks, too.

On the standard 1040 form, you're allowed to take a standard deduction. The idea is to itemize, and then decide if you do better with the itemization, or the standard deduction.

You use IRS form Schedule A to itemize on; and the stuff you can deduct covers a huge list.

For instance, if you're an over the road truck driver, you can deduct $52 a day for every day you're away from home - for a full time driver, that can be upwards of ten thousand dollars a year. If you're

a nurse, you can deduct the cost of your uniforms, shoes and stethescopes. If you're buying a home, you can deduct the interest you paid on your mortgage. If you rent a safe deposit box at the bank, you can deduct the cost of that rent. If you give money to charity, you can usually deduct that.

I mentioned drawbacks: make sure you have a receipt for every thing you deduct. If you are audited, you'll have to prove every deduction you take.

The list is huge. Head over to and search on itemized deductions to get a better idea.

By the way, if you do decide to itemize, you can amend your tax return on IRS Form 1040X, and may be able to turn an expected $300 refund into a $3000 one. You can amend returns for three years, I believe.

Good luck. - Stuart

Stuart · 8 years ago

Category: Taxes

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