From 2018 through 2025, all miscellaneous itemized deductions that were subject to the 2% floor are now suspended. In addition, an indivi...

Under the Tax Cuts and Jobs Act (TCJA), losses for individuals are now only deductible to the extent they are attributable to a federally...

Choosing the right organization is important. For your donation to be deductible, it must go to a nonprofit group that is approved by the...

Mortgage Interest You generally may deduct interest on home acquisition debt that is secured by a first or second home. This includes int...

Your deduction of state and local income, sales, and property taxes is limited to a combined total deduction of $10,000 ($5,000 if marrie...

This is a tax break that can be hard to benefit from. Only medical expenses beyond 7.5% of your adjusted gross income (AGI) is deductible...