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The 11 Most Overlooked Tax Deductions

March 17, 2009 | Taxes | No Comments

According to Kiplinger, every year United States taxpayers overlook tax deductions that could save them money. Below are the 11 most common overlooked tax deductions.

The great thing about doing your taxes using a computer program, such as Turbo Tax, is that it can help you to avoid these mistakes. TurboTax ensures that you find tax deductions you may have missed or even consider.  If you miss claiming tax breaks, you are overpaying the IRS, which we all do not want.

The 11 Most Overlooked Tax Deductions are as follows:

1.  State sales taxes
2.  Reinvested dividends
3.  Out-of-pocket charitable contributions
4.  Student loan interest paid by Mom and Dad
5.  Moving expense to take first job
6.  Military reservists’ travel expenses
7.  Child care credit
8.  Estate tax on income in respect of a decedent
9.  State tax you paid last spring
10. Refinancing points
11. Jury pay paid to employer

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