Deductions FOR/FROM AGI

Alimony

FOR

Student Loan Interest

FOR

Penalty of early withdrawal of CD

FOR

Contributions to traditional IRA (NOT Roth IRA)

FOR

Self-employed health insurance premiums

FOR

50% self-employment tax

FOR

Educator Expenses

FOR

Health Savings Account (HSA) contributions

FOR

Moving expenses for Armed Forces

FOR

Business expenses for self-employed individuals

FOR

Tuition & Fees Deduction (up to $2,500)

FOR

Medical & Dental Expenses (only amount exceeding 7.5% of AGI)

FROM

State & Local Income Taxes

FROM

Real Estate Taxes on Personal Residence

FROM

Real Estate Taxes on RENTAL Property

FOR

Home Mortgage Interest on Qualified Acquisition Debt

FROM

Charitable Contributions

FROM

Casualty & Theft Losses

FROM

Gambling Losses (To extent of winnings)

FROM

Gambling Winnings

FOR

Investment Interest Expense (to extent of investment income)

FROM

Miscellaneous Itemized Deductions

FROM

Losses from Rental Property (passive income losses limited)

FOR

Capital Losses (up to $3,000 ($1,500 if married filing separately))

FOR

Rental Property Expenses including:

• Mortgage interest on rental property

• Real estate taxes on rental property

• Depreciation on rental property

• Repairs and maintenance costs

• Utilities paid by the landlord

• Insurance premiums related to the rental property

• Advertising expenses for tenants

• Property management fees

• Legal and professional fees related to rental activity

• Travel expenses related to managing the rental property (subject to substantiation)

• Supplies used for the rental property

FOR