Tax time is something that most people look forward to every year. However, tax season is also met with a bit of apprehension when it comes to tax questions that you may have. One of the most important questions that many people have is regarding what can be written off on the Schedule A form. Here is a brief overview of each section of that form.
Medical and Dental Expenses
This section of this form covers all medical and dental expenses that you have incurred that have not been paid by others. This can cover your premiums, copays, and prescriptions. If you have had any of the costs reimbursed, you cannot include those charges in the filing of this form.
Taxes You Paid
This covers any taxes that you have had to pay out of your pocket during the year. If you had to pay the state, you will file it here. Other things to file here are your real estate taxes and taxes on a new vehicle purchase.
Interest You Paid
If you own a home, you will receive a Form 1098 from the company that holds your mortgage and deduct your mortgage interest. You will also claim any points that are reported.
Gifts to Charity
This section covers your charitable contributions that were monetary and material. If you go to church and you paid tithes, most churches will give a statement. Donations to places like Good Will can also be claimed. However, anything over $500 in non-cash contributions will need a Form 8283 attached.
Casualty and Theft Losses
An example of what you would file here is a loss that you suffered because of a car accident or maybe a break in. if your insurance covered the repairs, you cannot claim that amount but you can claim the insurance deductible. If you have something to claim in this section, a Form 4684 must be attached.
Job Expenses and Certain Miscellaneous Deductions
If you have unreimbursed expenses related to your employment, you will file then here. This includes travel for your job or continuing education classes that are not reimbursed by your employer. You must attach a Form 2106 or 2106EZ for these expenses.
You can also write off the fees that you paid to have your taxes filed and things such as your safe deposit box.
If you have other questions regarding filing your 2013 taxes, you can find most of those answers in the IRS Publication 17 or visit TurboTax online.