Misc. Deduction

Forum|Forum|3 years ago
February 22, 2023
1 reply
0 views

I'm a little confused by the misc. deduction section - I am maxed out on Interest deduction as well as Taxes... however, my biggest deduction is falling in this Misc. Deduction section - do you know what that is? I dont have any other deductions filled in like disaster relief. The explanation says other miscellaneous deductions come from your miscellaneous deductions that aren't subject to the 2% adjusted gross income threshold. -- But I'm not sure what that means?

Not A Product Question

RobertB4444

Level 15

There are still a few itemized deductions that are allowed on schedule A. They usually pass through from a K1 in this category. Other than that there are sales of business properties, amortizable bond premiums, gambling losses, disability related employee business expenses and a few different debt repayment and pension interests.

If nothing in that group sounds familiar it means that you have entered something wonky. Look at the amount and check your entries.

@sein88

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"