Common Items for Itemized Deductions

Form 1098 showing mortgage interest paid

You can claim the interest on your first and second personal residence. A personal residence is lived in by the owner and not rented to another party for more than 2 weeks of the year. This may be any type of residence, even a boat or trailer, but it must have living quarters and a bathroom. The 1098 form can usually be found on-line if you have signed up for an on-line account with your mortgage company.

Real estate tax paid during the year

This includes real estate tax paid on any parcel of land that you own, but is not used for business or as a rental property.

Health care expenses

This includes premiums, co-pays, and all expenses paid after insurance reimbursement for doctor, dentist, hospital, lab, eye care, and pharmacy. You will only be able to deduct the amount of medical-related expenses that exceed 7.5 percent of your Adjusted Gross Income.

Miles driven for medical purposes

This is the total round-trip miles driven to all medical appointment, eye exams, dentist, and drug store for medicine. This figure is multiplied by the amount per mile allowed by the IRS in that year. The total dollar amount is then added to your medical deduction figure.This is the total round-trip miles driven to all medical appointment, eye exams, dentist, and drug store for medicine. This figure is multiplied by the amount per mile allowed by the IRS in that year. The total dollar amount is then added to your medical deduction figure.

Motor Vehicle Registration for All Vehicles

Some states charge special licensing taxes on a vehicle registration that may be deductable.

Sales Tax Receipts From Large Purchases

If you live in a state that does not pay income tax, or if you had a small amount of state income tax withheld, you may be able to claim a sales tax deduction. You will need the sales receipt for your new car, truck, motorcycle, boat, or travel trailer that shows the sales tax paid on those items.

Job-Related Expenses

This includes uniforms, union dues, education required by your employer, or any other expense require by your employer that is not reimbursed. It is important to keep track of mileage and cost of parking if your employer requires you to travel during the work day. These expenses are reduced by 2% of your adjusted gross income before they are deductible.

Property Loss Due to Casualty

If you have been the victim of a fire, flood or theft you may have a tax deduction available due to your loss. You will need to know the value of the personal property before and after the casualty as well as the amount insurance claim received and applied toward the loss.

Gambling losses up to the amount of gambling winnings

Gambling winnings must be claimed as income on your federal tax return. By itemizing deductions you can reduce you income tax on winnings by claiming gambling losses.

Closing Statement From Real Estate Purchase

There may be real estate tax or interest paid at closing that does not appear on your 1098 tax document sent from the mortgage company.

Cash Charitable Contributions

You will need an actual receipt from the non-profit organization for this deduction to qualify. You also will need an itemized list showing the value of the items given.

Miles Driven For Volunteer Work

Includes miles driven to and from the charitable event. The mileage record must be in writing and include the same information needed for medical, business, and employee mileage: date, destination, purpose, and total miles driven.

Other Expenses

This includes tax preparation fees, safe deposit box costs, investment expenses and legal fees related to receiving taxable income. These expenses are deductible only if the total exceeds 2 percent of your Adjusted Gross Income.