Misc. Tax Deductions
Most other Misc. Tax Deductions
Lines 21 and 22 of Schedule A are used to
report tax preparation fees and amounts you paid to produce or
collect taxable inocme or manage or protect property held for
producing taxable income.
You may deduct only the amount that
exceeds 2% of your AGI. There are miscellaneous expenses
that are not subject to the 2% limit.
Tax preparation fees
You can usually deduct tax preparation
fees for the year you pay them. On your tax return, deduct the
tax preparation fees in the tax year for preparing your
previous year tax return.
For example, you can deduct the tax
preparation fees for preparing your 2006 tax return on your
2006 tax return due on April 15, 2007.
These fees may also include the cost of tax
preparation software and tax publications. They also include
any fee you paid for electronic filing of your tax return.
Report tax prep. fees on line 21 of Schedule
You can deduct other expenses as
miscellaneous tax deductions subject to the 2% limit. These are
expenses you pay to:
Produce or collect income that must be included in
your gross inocme,
Manage, conserve, or maintain property held for
producing such income, or
Determine, contest, pay, or claim a refund of any