1040 Tax Deductions
As we prepare your Individual Tax return, we will evaluate all the possible Tax Deductions you can claim.
Tax Deductions reduce the amount of your taxable income. But not all Taxpayers can use the standard deductions.
Below is a general guide, not all inclusive, to the common Tax Deductions for a 1040 return.
- Home ownership
- 1098 Mortgage Interest
- Property Taxes
- Qualified Energy Efficient Improvements
- Charitable Contributions
- Children & dependents
- Childcare expenses
- Earned Income Credit
- Education & students
- Home office expenses
- Gambling Losses
- Medical and dental expenses
- Qualified Business Income (QBI) deduction