Miscellaneous itemized deductions generally are deductible to the extent that they exceed 2% of your AGI. Included…
- Accountants’ fees.
- Costs for job-related uniforms.
- Fees paid for professional journals.
- Investment management and custody fees for taxable investments.
- Job-related education expenses.
- Job-search expenses for a new job in your present occupation, including…
- Travel to and from job interviews, including cab fare and/or auto expenses.
- Costs for preparing, typing, printing and mailing résumés.
- Legal expenses incurred for the production of income or the management, conservation or maintenance of income-producing property.
- Legal expenses incurred in collecting alimony under a divorce decree are deductible. However, legal expenses incurred in a divorce paid by one spouse in resisting the other’s monetary demands are nondeductible personal expenses.
- Tax-preparation fees.
- Union and professional dues.
Others
Other deductions that a taxpayer can benefit from are…
- Teachers can deduct as an adjustment to gross income up to $250 for unreimbursed expenses for equipment used in the classroom (books, computer equipment and supplies).
- Employees and self-employed individuals may deduct as an adjustment to gross income the reasonable expenses of moving themselves and their families if the move is related to starting work in a new location. Deductible expenses include (1) transportation of household goods and personal effects and (2) travel (lodging but not meals).
- Legal fees and court costs paid in conjunction with discrimination or “whistle-blowing” cases after October 22, 2004, are deductible as adjustments to gross income and not as itemized deductions.
- All properly substantiated gambling losses are fully deductible to the extent that they are used to offset that year’s gambling winnings.