HOME LAW INSURANCE


       
Find a Lawyer
Browse Tax Law
Tax Law Home Page

Resources
Tax Lawyers
Tax Law Forum
Articles & FAQs
   Corporate Tax Law
   Estate Tax Law
   Gift Tax Law
»Income Tax Law
Tax Law - Income Tax Law - General Income Tax Law Questions

  Page 57 of 63

What types of deductions are available?
Because of the complexity of our income tax laws, not all deductions are created equal. That is, some deductions can be more valuable than others, because those others are subject to limitations and restrictions. For example, some deductions can be taken by persons electing the standard deduction, whereas others cannot (the standard deduction, discussed below, is a substitute for these other deductions).

These more valuable deductions are sometimes called "above-the-line" deductions by tax professionals. You can find them on the front page of Form 1040, whereas the other deductions are those shown on Schedule A to Form 1040. The "above-the-line" deductions include trade or business expenses, expenses relating to property held for the production of income (such as rental property), alimony, IRA contributions, net capital losses (discussed later) and certain others.

Free Tax Debt Analysis!
« View All General Income Tax Law Questions Pages Next Page »
« Post Your Case  




Law Office of Michael Cernyar
Need a good Tax Lawyer in Los Angeles County?
AttorneyPages.com
Attorney Pages
Find recommended lawyers by state and city.
AttorneyPages.com



Get Legal Forms
Download 36,000+ forms
Law Forums
Search over 600,000 topics and answers in our law forums.
HACKER SAFE certified sites prevent over 99.9% of hacker crime. State Law Center | Legal Links | Site Map | Privacy Policy | Media | About Us | Contact Us

FreeAdvice® has been providing millions of consumers with outstanding advice, free, since 1995. While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our disclaimer and conditions of use. FreeAdvice®, AttorneyPages®, ExpertPages®, and LegalSoapbox™ are units or affiliates of Advice Company. All Rights Reserved © 1995-2008