Click here for a printable Itemized Deductions Savings list

 

Itemizing saves when you pay larger amounts on:

Home interest, Taxes including all the State & County income taxes, Contributions, a Casualty loss, Work related costs
(including using your vehicle for work), Gambling, or Medical expenses.

To save money:
Single Filers expenses need to exceed $6,300,
Head of Household $9,300, 
Married Filing Joint  $12,600.

Home Interest Paid - List or bring bank statements


1st Home Mortgage                                                         ________

   If paid to an individual & didn’t list last year bring   ________

    their Name,    Address,    Social Security Number 

Mortgage Insurance Premium                                      ________

Refinanced or 2nd Mortgage, Home Equity Loan     ________

2nd Home or a RV or Boat Used as a 2nd Home     ________

Closing Points Paid on a Home Loan                         ________

 

Taxes Paid - List or bring  tax bills & registrations

Home Real Estate Tax                                                    ________

Other Real Estate Tax and Ditch Assessments         ________

Vehicles: Excise Tax Due   Wheel/Sur    Excise Tax Due   Wheel/Sur  

     Veh. 1    _____        _____    Veh. 3.  _____        _____     

     Veh. 2    _____        _____    Veh. 4.  _____        _____    

Boat, Trailer, RV, Personal Property Tax                     ________

Amount You Owed the State Last Year                       ________

State, County & Estimated Income Tax Paid*           *We’ll compute

  *Or sales tax paid if you bought vehicles, RVs, or built a home

   List item _______   $____,   ________  $____,  ________  $____

 

Contributions - IRS requires you to have receipts!

Church or Religious Organization                              ________

United Way, Including Payroll Deduction                   ________

We Care, Heart/Cancer, Boy/Girl Scouts                   ________

Exchange Student Stayed in Your Home                __ X $50 a mo.

Other Charity __________________________       ________

Miles Driven for Charity**/Out of Pocket expenses    ________

List Items Donated in good condition (Used Value) ________

** Contributions: Another area the IRS is targeting is receipts for contributions.
Make sure you keep receipts and on donations of property you detail what you gave.

Gambling-Lottery losses up to winnings ______

 

Medical bills  must exceed 7.5% or 10% of income

Prescriptions, Insulin, Prescribed foods                      ________

Medical  Insurance, Long Term Care Insurance         ________              

Medicare Premiums, Medicare Supplements             ________

Doctors, Dentists, Chiropractor, Hospital, Eye Doctors              ________

Nurse, Nursing Home or Long Term Care Costs        ________

Therapy,  Handicapped Schooling, Wheelchair            ________

Hearing Aids, Eyeglasses, Equipment, Guide dog     ________

Auto Mileage**, Travel Expenses, Other Costs            ________

** Work Travel: IRS says they will be auditing mileage driven for business & travel expenses.
Be sure you have logs, receipts, and check the IRS doesn't consider your mileage to be commuting.

 

Other Expenses must exceed 2% of your income

Union and Professional  Dues, Licenses-Insurance   ________

Work Related Equipment, Tools, Uniforms, Supplies  ________

Travel Costs or Car Mileage** Driven for Work               ________

  **To deduct mileage, IRS requires timely completed mileage logs! 

Work Related Education, Magazines,  Books, Fees       ________

Job Seeking Costs, Trade Organization, Travel & Mileage**________

Tax Prep., Safe Deposit Box, Investment Publications     ________

Large Casualty Loss (tornado, flood, accident, etc.)         ________

________________________________________         ________

________________________________________          ________