Checkpoint Learning

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Individual Income Tax - Itemized Deductions  

CATEGORY: Taxation
  Online & Mobile
3 CPE Credits
Level: Basic

Taxpayers have a choice either to itemize deductions or to take the standard deduction each year and, of course, will want to select the most advantageous method that will lower their tax. In order to do this, it is necessary to know what expenses are allowed as deductions. This course is designed to provide a basic understanding of itemized deductions and discusses the different categories of, and limitations on, itemized deductions. Medical and dental expense, taxes, interest, charitable donations, casualty and theft losses, and other miscellaneous deductions are discussed in detail. NOTE: This course has been updated for the relevant 2018 provisions of the Tax Cuts and Jobs Act of 2017, Bipartisan Budget Act of 2018, and Taxpayer Certainty and Disaster Tax Relief Act of 2020.

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