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In 2018 Itemized Tax deductions i am not sure if we are considering everything like paid property taxes, medical expenses interest paid or dependent child credit?Explain
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In 2018 Itemized Tax deductions i am not sure if we are considering everything like paid property taxes, medical expenses interest paid or dependent child credit?Explain
The IRS lets you take either the standard deduction or the itemized deduction. If you itemize, we'll automatically fill out Schedule A, Itemized Deductions and switch you over to the 1040 long form.
Schedule A lets you report certain deductible expenses like:
- Medical and dental costs above and beyond 7.5% of your AGI
- State, local, real estate, and personal property taxes
- Home mortgage interest
- Charitable donations and gifts
Please view the IRS link below to see a list of itemized deductions you can claim.
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