Phrases with «miscellaneous deductions»

Miscellaneous deductions refer to a variety of expenses that individuals may be able to subtract from their taxable income. These expenses don't fit into specific categories like medical expenses or mortgage interest, but they can include things like job-related costs, tax preparation fees, and certain investment expenses. Deducting these expenses can help lower the amount of taxes you owe. Full definition

Related phrases

Sentences with «miscellaneous deductions»

  • You get a deduction to the extent that the total of miscellaneous deductions exceeds 2 % of your Adjusted Gross Income. (turbotax.intuit.com)
  • A host of other miscellaneous deductions subject to the 2 % AGI limitation will all be gone in 2018. (fool.com)
  • Schedule A. Report job search expenses on Schedule A of a 1040 tax return and claim them as miscellaneous deductions. (executivecareerbrand.com)
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