What Can Be Deducted On Schedule A? Medical and Dental Expenses. … State and Local Taxes. … Mortgage and Home Equity Loan Interest. … Charitable Deductions. … Casualty and Theft Losses. … Eliminated Itemized Deductions. What itemized deductions are allowed in 2020? Mortgage interest of $750,000 or less. Mortgage interest of $1 million or less
Can I Deduct Maintenance Fees For My Portfolio? If your expenses are less than your net investment income, the entire investment interest expense is deductible. If the interest expenses are more than the net investment income, you can deduct the expenses up to the net investment income amount. The rest of the expenses are carried
Can I Deduct Interview Travel On My Taxes? If the employer pays travel or other expenses to interview a prospective employee, that amount is deductible by the employer as an ordinary and necessary business expense. In addition, it is not reportable income to the employee. What travel can be deducted from taxes? Deductible travel expenses