01/24/2016
As a w2 employee, your qualified deductions can be limited. However, if you want to itemize your expenses , here is a list of some of the expenses that you may qualify to itemize in your return if applicable. Just keep in mind , your itemized deductions must exceed the total amount of your standard deductions to be considered instead.
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1.Medical and dental expenses
2. Real estate property taxes(home owner)
3. Personal property taxes
4. Home mortgage interest
5. Points paid on new mortgage
6. Mortgage insurance( Not hazard insurance)
7. Student loan interest
8. Taxes paid on new car purchase
9. Solar system expenses
10. Moving expenses( must be job related)
11. Casually and lost
12. Gambling lost
13. Gift by cash or check
15. Donations to charity
16. Church tithe and offerings
17. Professional subscriptions( nurses, doctors, etc.)
18. Job search
19. Qualified educator expenses
20. Union dues
21.Continuing education expenses
22. Tolls
23.Tuition and educational expenses(if applicable)
24. Mileage credit( if applicable)
And many more, but keep in mind that the amount that you spent does not fully get credited to you. It's just a percentage of that amount in reference to your adjusted gross income that's used to itemize your expenses and from there you get the credit.
In most cases, if you are not a home owner; more than likely you may not be qualified to claim itemized deductions because your total qualified expenses must be substantial enough to exceed your standard deductions depending on your status.
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