EXLUSIONS / ATL DEDUCTIONS / ITEMIZED Flashcards

1
Q

MUNI BOND INTEREST

A

EXCLUSION

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2
Q

ACCIDENT + HEALTH PLANS: EMPLOYER PREMIUMS

A

EXCLUSION

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3
Q

FRINGE BENEFITS

A

EXCLUSION

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4
Q

INHERITANCE & GIFTS

A

EXCLUSION

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5
Q

ACCIDENT + HEALTH PLANS: AMOUNTS RECEIVED

A

EXCLUSION

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6
Q

SCHOLARSHIPS

A

EXCLUSION

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7
Q

PERSONAL RESIDENT SALE GAINS (250K / 500K)

A

EXCLUSION

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8
Q

ADOPTION ASSISTANCE

A

EXCLUSION

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9
Q

DEATH BENEFITS

A

EXCLUSION

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10
Q

DEPENDENT CARE ASSISTANT PROGRAMS

A

EXCLUSION

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11
Q

EDUCATIONAL ASSISTANCE PROGRAMS

A

EXCLUSION

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12
Q

DEBT DISCHARGES (IN CERTAIN CIRCUMSTANCES)

A

EXCLUSION

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13
Q

MEALS AND LODING FOR EMPLOYEES

A

EXCLUSION

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14
Q

INTEREST ON EDUCATION SAVINGS BONDS: EE / I BONDS

A

EXCLUSION

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15
Q

COMPENSATORY DAMAGES COMPENSATION

A

EXCLUSION

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16
Q

SUPPORT PAYMENTS RECEIVED (CHILD SUPPORT PAYMENTS + POST 2018 ALIMONY)

17
Q

EDUCATOR EXPENSES: 300 / INDIVIDUAL

A

ABOVE THE LINE DEDUCTION

18
Q

BUSINESS EXPENSES FOR GOV. OFFICIALS WHO WORK ON A FEE BASIS, PERFORMING ARTISTS, MEMBERS OF THE MILITARY RESERVE FORCES WHO TRAVEL MORE THN 100 MILES TO PERFORM RESERVE SERVICES

A

ABOVE THE LINE DEDUCTION

19
Q

HSA CONTRIBUTIONS WITH AFTER-TAX MONEY

A

ABOVE THE LINE DEDUCTION

20
Q

MOVING EXPENSES FOR ACTIVE DUTY U.S. ARMED FORCES

A

ABOVE THE LINE DEDUCTION

21
Q

EMPLOYER PORTION OF SE TAX (1/2 OF SE TAX)

A

ABOVE THE LINE DEDUCTION

22
Q

RETIREMENT ACCOUNT CONTRIBUTIONS FOR SELF EMPLOYED INDIVIDUALS AND SMALL BUSINESS OWNERS

A

ABOVE THE LINE DEDUCTION

23
Q

COST OF HEALTH INSURANCE PREMIUMS FOR SELF-EMPLOYED WORKES INCLUDING DENTAL AND LONG TERM CARE INSURANCE
*if no other options are available

A

ABOVE THE LINE DEDUCTION

24
Q

EARLY WITHDRAWAL PENALTIES OF SAVINGS ACCOUNTS, LIKE A CD

A

ABOVE THE LINE DEDUCTION

25
ALIMONY PAYMENTS THAT TOOK EFFECT BEFORE 2019
ABOVE THE LINE DEDUCTION
26
TRADITIONAL IRA CONTRIBUTIONS
ABOVE THE LINE DEDUCTION
27
STUDENT LOAN INTEREST FOR UP TO $2,500 OF INTEREST PAID
ABOVE THE LINE DEDUCTION
28
QUALIFYING MEDICAL / DENTAL EXPENSES IN EXCESS OF 7.5% AGI
ITEMIZED DEDUCTION
29
STATE AND LOCAL TAXES UP TO $10,000
ITEMIZED DEDUCTION
30
MORTGAGE INTEREST PAID ON UP TO $750,000 OF DEBT
ITEMIZED DEDUCTION
31
CASH DONATIONS TO CHARITY (LIMITED TO 60% AGI)
ITEMIZED DEDUCTION