Deductible to arrive at AGI vs Itemized Deductions

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  • #1305304
    Anonymous
    Inactive

    Is there a list of items that splits what is deductible to arrive at AGI and what is itemized?

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  • #1305334
    Lou
    Participant

    Chapter 2 of Becker has one. And the beginning of the Becker book

    AUD - 91
    BEC - 91
    FAR - 94
    REG - 87
    Done!

    FAR- taken 8/11/16....now the wait begins
    AUD- scheduled 9/8/16
    BEC- scheduled 10/9/16
    REG-scheduled 12/10/16

    Live a few years like most people won't, to live the rest of your life like most people can't.

    #1305352
    Anonymous
    Inactive

    Grab a Form 1040 and Schedule A online.
    If possible, print all basic tax forms and Schedules A-K.

    Adjustments consist of 12:
    [MISSHAPED-BAT]
    M – Moving Expenses {Form 3903}
    I – IRA
    S –Student Loan Interest Expenses
    S – Self-Employed “FReSH”
    H – Health Savings Account [HSA] {Form 8889}
    A – Alimony Paid
    P – Penalty on Early Withdrawal of Savings
    E – Educator Expenses (expired 12/31/2013)
    D – Domestic Production Activities Deduction {Form 8903}
    B – Business Expenses of “RAG” =>
    A – Attorney Fees Paid in Certain Discrimination and Whistle-Blower Cases
    T – Tuition & Fee Deduction (expired 12/31/2013) {Form 8917}

    Self-Employed “FReSH”
    F – FICA [Federal Insurance Contributions Act] {Schedule SE}
    Retirement*
    E
    S – SEP [Simplified Employee Pension/ SIMPLE [Savings Incentive Match Plans for Employees, &Qualified Plans];
    H – Health Insurance Deduction *
    *Not deducted on Schedule C

    Business Expenses of “RAG”
    R – Reservists;
    A – Performing Artists;
    G – Gov’t=Fee-Basis Government Officials {Form 2106 or 2106-EZ}

    Itemized Deductions [ID] {Schedule A} (Form 1040)
    7 [COMETIC]
    C – Charitable Contributions
    O – OMD [Other Miscellaneous Deductions]
    M – MADE [Medical and Dental Expenses]
    E – Employee Expenses(unreimbursed employee expenses); Miscellaneous Exp
    T – Taxes Paid
    I – Interest Paid
    C – Casualty or Theft Losses

    Job Expenses &a Certain Miscellaneous Deductions (Actually Itemized on Form 1040-Schedule A)
    (Unreimbursed Employee Expenses):
    7 SUITTES
    S – Safe Deposit Box
    U – Union Dues
    I – Investment (Custodial Fees)
    T – Job Travel
    T – Tax Preparation Fees
    E – Job Education
    S –Subscriptions to professional journals

    Taxes Paid:
    4 PROS:
    P – Personal Property Taxes
    R – Real Estate Taxes
    O – Other Taxes
    S – SALT [State & Local Tax]

    Interest Paid:
    3 HIM:
    H – Home Mortgage Interest
    I – Investment Interest
    M – Mortgage Insurance Premiums

    #1305396
    Anonymous
    Inactive

    Damn Amor D. Do you work in tax? Or are you just well prepared?

    #1305621
    pracap
    Participant

    @Nath
    where are you from?

    AUD - 81
    BEC - 79
    FAR - 80
    REG - 79
    pracap
    #1305634
    leglock
    Participant

    good work amor, I am going to save that list.

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