Miscellaneous Itemized Deductions

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Miscellaneous Itemized Deductions

Miscellaneous Itemized Deductions means:
job expenses and other miscellaneous expenses that are deductible by individual taxpayers but are not categorizable as medical expenses, taxes, interest, charitable contributions, casualty and theft losses, or moving expenses. Most miscellaneous itemized deductions are subject to a 2% floor (a reduction of the total deduction by 2% of Adjusted Gross Income). Examples of these are:

• union or professional dues.

• employment agency fees.

• unreimbursed job travel expenses.

• job-related education.

• uniform expenses.

• investment expenses.

• tax return preparation fees.

• safe deposit box fees.

• repayment under the claim-of-right doctrine of $3,000 or less.

• expenses incurred in the production of income or the preservation of property (also called Section 212 expenses).

Miscellaneous itemized deductions that are not subject to a 2% floor include:

• rent or royalty expenses.

• federal estate tax deduction.

• gambling losses to the extent of gambling winnings.

• repayment under claim of right in excess of $3,000.

• impairment-related work expenses of a disabled person. IRC (check if this IRC provision is current here) §67(b).

Description and Definition of Miscellaneous Itemized Deductions

These are generally itemized deductions for job, investment, and other miscellaneous expenses that are only deductible to the extent that they exceed 2 percent of your adjusted gross income.


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