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.