IRS Deudctions
 
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Misc. Tax Deductions

 

To be tax deductible, misc expenses paid for the purposes in 1 and 2 in the previous page must be reasonably and closely related to these purposes.

 

Other expenses for misc. tax deductions

Other expenses include the following.

  • Legal fees related to paying or contesting taxes
  • Appraisal fees for a casualty loss or charitable deduction
  • Rent for a safe deposit box to store stocks, bonds or investment related documents
  • Depreciation on home computers used for investment
  • Fees to collect interest and dividends
  • Legal fees related to producing income or keeping your job
  • Service charges on dividend reinvestment plans
  • Subscriptions to investment related publications
  • IRS trustee's administrative fees that are billed separately (not taken out of your IRA)
  • Fees for investment counseling
  • Investment related office supplies
  • Repayment of social security benefits if $3,000 or less
  • Repayment of income if $3,000 or less
  • Clerical help and office rent related to managing investments.
 
Where to report other expenses for tax deductions?

Report these other expenses on line 22 of Schedule A.

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