Thirteen often overlooked deductions that can blunt the dent to your wallet come April 15th.
1. State sales taxes.
2. $250 educators’ expenses.
3. College tuition.
4. Student loan interest paid by mom and dad.
5. Out-of-pocket charitable contributions.
6. Moving expense to take first job.
7. Military reservists travel expenses.
8. Child-care credit.
9. Estate tax on income in respect of a decedent
10. State tax you paid last spring.
11. Refinancing points.
12. Reinvested dividends
13. Jury pay paid to employer
We’re trying to claim lots of deductions this year, working freelance and all. We’re wondering, can you claim deductions this year on things you didn’t think to deduct in previous years? — BEN POPKEN
The 13 Most Overlooked Tax Deductions [Kiplinger’s]