When entering Itemized Deductions, please keep in mind that there are two groups that are limited by your Adjusted Gross Income (AGI). These two groups are:Medical Expenses; only the amount over 10% of AGI (7.5% of age 65 or older) is considered deductible Miscellaneous Deductions; only the amount over 2% of AGI is considered deductibleCasualty and Theft Losses; generally deductible to the extent they exceed 10% of your adjusted gross income, are not reimbursable by insurance, and each event exceeds $500.It is possible that these limits are skewing the dollar amount you may have been expecting when totaling the amount of your Itemized Deductions. FYI Below is a PDF with a checklist of common Itemized Deductions.

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dennisvk

Level 1

Question

All itemized deductions not reported

Forum|Forum|7 years ago
June 7, 2019
1 reply
9 views

No text available

Anonymous

When entering Itemized Deductions, please keep in mind that there are two groups that are limited by your Adjusted Gross Income (AGI). These two groups are:

Medical Expenses; only the amount over 10% of AGI (7.5% of age 65 or older) is considered deductible
Miscellaneous Deductions; only the amount over 2% of AGI is considered deductible
Casualty and Theft Losses; generally deductible to the extent they exceed 10% of your adjusted gross income, are not reimbursable by insurance, and each event exceeds $500.

It is possible that these limits are skewing the dollar amount you may have been expecting when totaling the amount of your Itemized Deductions.

FYI Below is a PDF with a checklist of common Itemized Deductions.