Itemizing Your Deductions

If the amount of your allowable deductions is greater than your standard deduction, the IRS encourages you to itemize your deductions.

Major categories for itemizing deductions include:

Home mortgage interest expense. You may deduct mortgage interest you paid on your residential mortgage.

Real estate taxes. Property taxes that you pay on your home may also be deducted.

Medical and dental expenses. You may deduct qualified medical and dental expenses.

Contributions to charitable organizations. The IRS allows you to deduct contributions of money or property to a qualified organization for its use.

Miscellaneous expenses. Miscellaneous expenses are generally unreimbursed expenses that are related to your performance of a job such as travel, lodging and meals.

Call StrategyOne Today 202-486-8232