Don’t Forget These Tax Deductions

Here’s a list of deductions that people may overlook when filing their taxes:

Out-of-pocket expenses relating to charitable activities, including the standard mileage deduction
Medical transportation, including standard mileage deduction and lodging expenses incurred for medical reasons while away from home
Legal fees incurred in connection with obtaining or collecting alimony
Gambling losses to the extent of gambling gains
Costs associated with looking for a new job in your present occupation, including fees for resume preparation and employment of outplacement agencies Contraceptives, if bought with a prescription
Commissions and closing costs on sale of property
Seller-paid points on the purchase of a home
Education expenses to the extent required by law or your employer or needed to maintain or improve your skills
Mortgage payment penalties and late fees

Source: J.K. Lasser

Feb. 28, 2008