Mortgage Interest, Homeowners can often deduct mortgage interest paid on their primary residence, as well as interest on home equity loans or lines of credit used for home improvements.
7. State and Local Taxes, In some cases, you can deduct state and local income taxes, or alternatively, state and local sales taxes paid during the year.
8. Job-Related Expenses, If you have unreimbursed job-related expenses, such as professional dues, travel expenses, or work-related subscriptions, these may be deductible.
9. Childcare Expenses, Childcare costs incurred while you work or look for work might qualify for a deduction. This can include daycare, after-school care, and even summer camps.
10. Self-Employment Expenses, Self-employed individuals can often deduct expenses directly related to their business, such as office rent, equipment, and health insurance premiums.
11. Investment Expenses, Certain investment-related expenses, like fees paid to financial advisors or costs associated with managing investments, may be deductible.
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