IRS Deudctions
 
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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.

Misc. Tax Deductions

 
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 A.

 

Other expenses

You can deduct other expenses as miscellaneous tax deductions subject to the 2% limit. These are expenses you pay to:

  1. Produce or collect income that must be included in your gross inocme,

     

  2. Manage, conserve, or maintain property held for producing such income, or

     

  3. Determine, contest, pay, or claim a refund of any tax.

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