Monday, March 18, 2019

Miscellaneous Itemized Deductions

The tax reform act eliminated miscellaneous itemized deductions such as employee business expenses and investment expenses. However there are still some left that are fully deductible you might not know about including the following: gambling losses to the extent of gambling winnings, job related expenses of the handicapped, estate taxes imposed on taxable income, and the unrecovered cost of annuities on a decedent's final return.

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