Tax Related Questions > Deductions > Other Deductions Related Questions

What Are Charitable Contributions? Charitable contributions, in cash or in property donated to qualified organizations, are tax deductible only if you itemize your deductions on Schedu...
Depreciation and Amortization (Including Information on Listed Property) - Form 4562 Form 4562 allows you to claim a variety of deductions related to depreciation and amortization including Depreciation of property placed in service d...
Investment Interest Expense Deduction - Form 4952 You must file Form 4952 to claim the investment interest expense deduction and determine how much investment interest expense you can carry forward to...
Noncash Charitable Contributions - Form 8283 File Form 8283 to report noncash charitable contributions to the IRS, but only if the amount of your deduction for noncash gifts is greater than $500....
What Are Non-Business Deductible Taxes? There are five types of non-business taxes you can deduct on your federal tax return: State, local, and foreign income taxes - you can deduct the sta...
Gambling Losses Deduction You can deduct gambling losses as a miscellaneous itemized deduction on your Schedule A, but only up to the amount you report in gambling winnings on ...
Miscellaneous Deductions Many itemized deductions are grouped under the umbrella term “miscellaneous deductions” and, like other itemized deductions, can be claimed on your Sc...
What Is a Deduction? A tax deduction is a special tax break that reduces the amount of income on which you are taxed, thus reducing your overall tax burden. Deductions ar...
What Are Itemized Deductions? - Schedule A Every taxpayer can choose to take either the standard deduction or itemize deductions, usually whichever results in the least tax due. If you choose t...
What is the difference between deductions and credits? Both deductions and credits save you money on your taxes, but they do it in different ways. Credits apply directly to your tax burden, reducing out...
Above-the-Line Deductions Above-the-line deductions are deductions that you subtract directly from your gross income and are separate from normal itemized deductions, which you...