Are there any other itemized deductions that I could claim on my tax return? I donâ€™t want to overlook any potential tax deductions.
Determining what you can itemize to maximize your tax return is important. Other itemized deductions that you may want to consider include:
- Gambling losses, but only to the extent of gambling winnings reported on Form 1040
- Casualty and theft losses of income-producing property from Form 4684 or Form 4797
- Loss from other activities from Schedule K-1 (Form 1065-B)
- Federal estate tax on income in respect of a decedent
- Amortizable bond premium on bonds acquired before Oct. 23, 1986
- Deduction for repayment of amounts under a claim of right if over $3,000
- Certain unrecovered investment in a pension
- Impairment-related work expenses of disabled person
Your options for your tax filing status if your spouse dies will change depending on how long ago they passed away. For example, you can generally use married filing jointly in the year your spouse passes. Then in the next two years, you can file as a qualifying widower if you meet certain requirements.
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