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State tax return only Index A Additional Child Tax Credit How to claim the additional child tax credit, Additional Child Tax Credit Assistance (see Tax help) C Child Tax Credit Qualifying child, Child Tax Credit Claiming the Credit, Claiming the Credit E Earned Income, Earned Income F Free tax services, Free help with your tax return. State tax return only H Help (see Tax help) L Limits on the Credit AGI, Limits on the Credit Modified AGI, Limits on the Credit P Publications (see Tax help) Q Qualifying Child Adopted child, Qualifying Child Exceptions to time lived with you, Qualifying Child Qualifying child of more than one person, Qualifying Child T Tax help, How To Get Tax Help TTY/TDD information, How To Get Tax Help Prev  Up     Home   More Online Publications
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SOI Tax Stats - Tax-Exempt Bond Statistics

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Snapshot of Tax-Exempt Bond Statistics

  • Includes data on "public purpose" (Governmental) bonds, obtained from Form 8038-G, Information Return for Tax-Exempt Governmental Obligations; as well as data on "private-activity" bonds, obtained from Form 8038, Information Return for Tax-Exempt Private Activity Bonds.
  • Analyzes the types of projects financed and the entire issue price of bonds.

For information about selected terms and concepts, a description of the data sources and limitations, and links to recent revisions of Forms 8038-G and 8038, please visit the Tax-Exempt Bonds Studies Metadata page.

 


Statistical Tables

The following tables are available as Microsoft Excel® files.  A free Excel viewer is available for download, if needed.

All Municipal Bonds Reported on Forms 8038, 8038-B, 8038-G, and 8038-TC
 

    Classified by: Bond Type, Year of Issue
    Issue Years: 2010   2009

 

Tax-Exempt Governmental Bonds (Form 8038-G):
 

 All Bonds—Number of Bonds Issued, Entire Issue Price
    Classified by: Type of Bond, Term, Year of Issue
    Issue Years:

2011   2010   2009   2008   2007   2006   2003–2004   1996–2002

1991–1995


 

 Long-Term Bonds—Number of Bonds Issued, Entire Issue Price
    Classified by: Purpose of Bond, Year of Issue
    Issue Years:

2011   2010   2009   2008   2007   2006   2005   2003–2004   1996–2002

1991–1995


 

 Long-Term Bonds—Computation of Lendable Proceeds
    Classified by: Selected Purpose of Bond
    Issue Years:

2011   2010    2009    2008   2007   2006   2005   2003–2004   2002

1995


 

 New Money, Long-Term Bonds
    Classified by: Purpose of Bond, Size of Issue
    Issue Years:

2011   2010   2009   2008   2007   2006   2003–2004   2002

1995


 

 New Money, Long-Term Bonds
    Classified by: State, Purpose of Bond
    Issue Years:

2011   2010   2009   2008   2007   2006   2005   2003–2004   1996–2002

1995



Tax-Exempt Private-Activity Bonds (Form 8038):
 

 All Bonds—Number of Bonds Issued, Entire Issue Price
    Classified by: Type of Bond, Term, Year of Issue
    Issue Years:

2011   2010   2009   2008   2007   2006   2003–2004   1996–2002

1988–1995


 

  Long-Term Bonds—Number of Bonds Issued, Entire Issue Price
    Classified by: Purpose of Bond, Year of Issue
    Issue Years:

2011   2010   2009   2008   2007   2006   2005   2003–2004   1996–2002

1988–1995


 

 Long-Term Bonds—Computation of Lendable Proceeds
     Classified by: Selected Purpose of Bond
    Issue Years:

2011   2010   2009   2008   2007   2006   2005   2003–2004   2002

1995


 

  New Money, Long-Term Bonds
    Classified by: Purpose of Bond, Size of Issue
    Issue Years:

2011   2010   2009   2008   2007   2006   2003–2004   2002

1995


 

  New Money, Long-Term Bonds
    Classified by: State, Purpose of Bond
    Issue Years:

2011   2010   2009   2008   2007   2006   2005   2003–2004   1996–2002

1988–1995


 

Taxable Direct Payment Bonds 

    Classified by: Direct Payment Bond Type, Year of Issue
    Issue Years: 2010   2009

 
    Classified by: Purpose of Bond, Size of Issue
    Issue Years: 2010    2009

 
    Classified by: Selected States of Issue
    Issue Years: 2010    2009

 
 
  Specified Tax Credit Bonds
    Classified by: Selected States of Issue
    Issue Years: 2010


 

Tax Credit Bonds

    Classified by: Type
    Issue Years: 2011   2010

 
 
    Classified by: Tax Credit Bond Type, Size of Issue
    Issue Years: 2009

 
    Classified by: Selected States of Issue
    Issue Years: 2009

SOI Bulletin Articles

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Other IRS Data and Related Links

For tax administration data on this topic, as well as other types of taxes, choose from the links below.

 

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Page Last Reviewed or Updated: 22-Oct-2013

The State Tax Return Only

State tax return only 28. State tax return only   Miscellaneous Deductions Table of Contents What's New Introduction Useful Items - You may want to see: Deductions Subject to the 2% LimitUnreimbursed Employee Expenses (Line 21) Tax Preparation Fees (Line 22) Other Expenses (Line 23) Deductions Not Subject to the 2% LimitList of Deductions Nondeductible ExpensesList of Nondeductible Expenses What's New Standard mileage rate. State tax return only  The 2013 rate for business use of a vehicle is 56½ cents per mile. State tax return only Introduction This chapter explains which expenses you can claim as miscellaneous itemized deductions on Schedule A (Form 1040). State tax return only You must reduce the total of most miscellaneous itemized deductions by 2% of your adjusted gross income. State tax return only This chapter covers the following topics. State tax return only Deductions subject to the 2% limit. State tax return only Deductions not subject to the 2% limit. State tax return only Expenses you cannot deduct. State tax return only You must keep records to verify your deductions. State tax return only You should keep receipts, canceled checks, substitute checks, financial account statements, and other documentary evidence. State tax return only For more information on recordkeeping, get Publication 552, Record- keeping for Individuals. State tax return only Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 525 Taxable and Nontaxable Income 529 Miscellaneous Deductions 535 Business Expenses 587 Business Use of Your Home (Including Use by Daycare Providers) 946 How To Depreciate Property Form (and Instructions) Schedule A (Form 1040) Itemized Deductions 2106 Employee Business Expenses 2106-EZ Unreimbursed Employee Business Expenses Deductions Subject to the 2% Limit You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040). State tax return only You can claim the amount of expenses that is more than 2% of your adjusted gross income. State tax return only You figure your deduction on Schedule A by subtracting 2% of your adjusted gross income from the total amount of these expenses. State tax return only Your adjusted gross income is the amount on Form 1040, line 38. State tax return only Generally, you apply the 2% limit after you apply any other deduction limit. State tax return only For example, you apply the 50% (or 80%) limit on business-related meals and entertainment (discussed in chapter 26) before you apply the 2% limit. State tax return only Deductions subject to the 2% limit are discussed in the three categories in which you report them on Schedule A (Form 1040). State tax return only Unreimbursed employee expenses (line 21). State tax return only Tax preparation fees (line 22). State tax return only Other expenses (line 23). State tax return only Unreimbursed Employee Expenses (Line 21) Generally, you can deduct on Schedule A (Form 1040), line 21, unreimbursed employee expenses that are: Paid or incurred during your tax year, For carrying on your trade or business of being an employee, and Ordinary and necessary. State tax return only An expense is ordinary if it is common and accepted in your trade, business, or profession. State tax return only An expense is necessary if it is appropriate and helpful to your business. State tax return only An expense does not have to be required to be considered necessary. State tax return only Examples of unreimbursed employee expenses are listed next. State tax return only The list is followed by discussions of additional unreimbursed employee expenses. State tax return only Business bad debt of an employee. State tax return only Education that is work related. State tax return only (See chapter 27. State tax return only ) Legal fees related to your job. State tax return only Licenses and regulatory fees. State tax return only Malpractice insurance premiums. State tax return only Medical examinations required by an employer. State tax return only Occupational taxes. State tax return only Passport for a business trip. State tax return only Subscriptions to professional journals and trade magazines related to your work. State tax return only Travel, transportation, entertainment, and gifts related to your work. State tax return only (See chapter 26. State tax return only ) Business Liability Insurance You can deduct insurance premiums you paid for protection against personal liability for wrongful acts on the job. State tax return only Damages for Breach of Employment Contract If you break an employment contract, you can deduct damages you pay your former employer that are attributable to the pay you received from that employer. State tax return only Depreciation on Computers You can claim a depreciation deduction for a computer that you use in your work as an employee if its use is: For the convenience of your employer, and Required as a condition of your employment. State tax return only For more information about the rules and exceptions to the rules affecting the allowable deductions for a home computer, see Publication 529. State tax return only Dues to Chambers of Commerce and Professional Societies You may be able to deduct dues paid to professional organizations (such as bar associations and medical associations) and to chambers of commerce and similar organizations, if membership helps you carry out the duties of your job. State tax return only Similar organizations include: Boards of trade, Business leagues, Civic or public service organizations, Real estate boards, and Trade associations. State tax return only Lobbying and political activities. State tax return only   You may not be able to deduct that part of your dues that is for certain lobbying and political activities. State tax return only See Dues used for lobbying under Nondeductible Expenses, later. State tax return only Educator Expenses If you were an eligible educator in 2013, you can deduct up to $250 of qualified expenses you paid in 2013 as an adjustment to gross income on Form 1040, line 23, rather than as a miscellaneous itemized deduction. State tax return only If you file Form 1040A, you can deduct these expenses on line 16. State tax return only If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. State tax return only However, neither spouse can deduct more than $250 of his or her qualified expenses. State tax return only Home Office If you use a part of your home regularly and exclusively for business purposes, you may be able to deduct a part of the operating expenses and depreciation of your home. State tax return only You can claim this deduction for the business use of a part of your home only if you use that part of your home regularly and exclusively: As your principal place of business for any trade or business, As a place to meet or deal with your patients, clients, or customers in the normal course of your trade or business, or In the case of a separate structure not attached to your home, in connection with your trade or business. State tax return only The regular and exclusive business use must be for the convenience of your employer and not just appropriate and helpful in your job. State tax return only See Publication 587 for more detailed information and a worksheet. State tax return only Job Search Expenses You can deduct certain expenses you have in looking for a new job in your present occupation, even if you do not get a new job. State tax return only You cannot deduct these expenses if: You are looking for a job in a new occupation, There was a substantial break between the ending of your last job and your looking for a new one, or You are looking for a job for the first time. State tax return only Employment and outplacement agency fees. State tax return only   You can deduct employment and outplacement agency fees you pay in looking for a new job in your present occupation. State tax return only Employer pays you back. State tax return only   If, in a later year, your employer pays you back for employment agency fees, you must include the amount you receive in your gross income up to the amount of your tax benefit in the earlier year. State tax return only (See Recoveries in chapter 12. State tax return only ) Employer pays the employment agency. State tax return only   If your employer pays the fees directly to the employment agency and you are not responsible for them, you do not include them in your gross income. State tax return only Résumé. State tax return only   You can deduct amounts you spend for preparing and mailing copies of a résumé to prospective employers if you are looking for a new job in your present occupation. State tax return only Travel and transportation expenses. State tax return only   If you travel to an area and, while there, you look for a new job in your present occupation, you may be able to deduct travel expenses to and from the area. State tax return only You can deduct the travel expenses if the trip is primarily to look for a new job. State tax return only The amount of time you spend on personal activity compared to the amount of time you spend in looking for work is important in determining whether the trip is primarily personal or is primarily to look for a new job. State tax return only   Even if you cannot deduct the travel expenses to and from an area, you can deduct the expenses of looking for a new job in your present occupation while in the area. State tax return only   You can choose to use the standard mileage rate to figure your car expenses. State tax return only The 2013 rate for business use of a vehicle is 56½ cents per mile. State tax return only See chapter 26 for more information. State tax return only Licenses and Regulatory Fees You can deduct the amount you pay each year to state or local governments for licenses and regulatory fees for your trade, business, or profession. State tax return only Occupational Taxes You can deduct an occupational tax charged at a flat rate by a locality for the privilege of working or conducting a business in the locality. State tax return only If you are an employee, you can claim occupational taxes only as a miscellaneous deduction subject to the 2% limit; you cannot claim them as a deduction for taxes elsewhere on your return. State tax return only Repayment of Income Aid Payment An “income aid payment” is one that is received under an employer's plan to aid employees who lose their jobs because of lack of work. State tax return only If you repay a lump-sum income aid payment that you received and included in income in an earlier year, you can deduct the repayment. State tax return only Research Expenses of a College Professor If you are a college professor, you can deduct research expenses, including travel expenses, for teaching, lecturing, or writing and publishing on subjects that relate directly to your teaching duties. State tax return only You must have undertaken the research as a means of carrying out the duties expected of a professor and without expectation of profit apart from salary. State tax return only However, you cannot deduct the cost of travel as a form of education. State tax return only Tools Used in Your Work Generally, you can deduct amounts you spend for tools used in your work if the tools wear out and are thrown away within 1 year from the date of purchase. State tax return only You can depreciate the cost of tools that have a useful life substantially beyond the tax year. State tax return only For more information about depreciation, see Publication 946. State tax return only Union Dues and Expenses You can deduct dues and initiation fees you pay for union membership. State tax return only You can also deduct assessments for benefit payments to unemployed union members. State tax return only However, you cannot deduct the part of the assessments or contributions that provides funds for the payment of sick, accident, or death benefits. State tax return only Also, you cannot deduct contributions to a pension fund, even if the union requires you to make the contributions. State tax return only You may not be able to deduct amounts you pay to the union that are related to certain lobbying and political activities. State tax return only See Lobbying Expenses under Nondeductible Expenses, later. State tax return only Work Clothes and Uniforms You can deduct the cost and upkeep of work clothes if the following two requirements are met. State tax return only You must wear them as a condition of your employment. State tax return only The clothes are not suitable for everyday wear. State tax return only It is not enough that you wear distinctive clothing. State tax return only The clothing must be specifically required by your employer. State tax return only Nor is it enough that you do not, in fact, wear your work clothes away from work. State tax return only The clothing must not be suitable for taking the place of your regular clothing. State tax return only Examples of workers who may be able to deduct the cost and upkeep of work clothes are: delivery workers, firefighters, health care workers, law enforcement officers, letter carriers, professional athletes, and transportation workers (air, rail, bus, etc. State tax return only ). State tax return only Musicians and entertainers can deduct the cost of theatrical clothing and accessories that are not suitable for everyday wear. State tax return only However, work clothing consisting of white cap, white shirt or white jacket, white bib overalls, and standard work shoes, which a painter is required by his union to wear on the job, is not distinctive in character or in the nature of a uniform. State tax return only Similarly, the costs of buying and maintaining blue work clothes worn by a welder at the request of a foreman are not deductible. State tax return only Protective clothing. State tax return only   You can deduct the cost of protective clothing required in your work, such as safety shoes or boots, safety glasses, hard hats, and work gloves. State tax return only   Examples of workers who may be required to wear safety items are: carpenters, cement workers, chemical workers, electricians, fishing boat crew members, machinists, oil field workers, pipe fitters, steamfitters, and truck drivers. State tax return only Military uniforms. State tax return only   You generally cannot deduct the cost of your uniforms if you are on full-time active duty in the armed forces. State tax return only However, if you are an armed forces reservist, you can deduct the unreimbursed cost of your uniform if military regulations restrict you from wearing it except while on duty as a reservist. State tax return only In figuring the deduction, you must reduce the cost by any nontaxable allowance you receive for these expenses. State tax return only   If local military rules do not allow you to wear fatigue uniforms when you are off duty, you can deduct the amount by which the cost of buying and keeping up these uniforms is more than the uniform allowance you receive. State tax return only   You can deduct the cost of your uniforms if you are a civilian faculty or staff member of a military school. State tax return only Tax Preparation Fees (Line 22) You can usually deduct tax preparation fees in the year you pay them. State tax return only Thus, on your 2013 return, you can deduct fees paid in 2013 for preparing your 2012 return. State tax return only These fees include the cost of tax preparation software programs and tax publications. State tax return only They also include any fee you paid for electronic filing of your return. State tax return only Other Expenses (Line 23) You can deduct certain other expenses as miscellaneous itemized deductions subject to the 2% limit. State tax return only On Schedule A (Form 1040), line 23, you can deduct expenses that you pay: To produce or collect income that must be included in your gross income, To manage, conserve, or maintain property held for producing such income, or To determine, contest, pay, or claim a refund of any tax. State tax return only You can deduct expenses you pay for the purposes in (1) and (2) above only if they are reasonably and closely related to these purposes. State tax return only Some of these other expenses are explained in the following discussions. State tax return only If the expenses you pay produce income that is only partially taxable, see Tax-Exempt Income Expenses , later, under Nondeductible Expenses. State tax return only Appraisal Fees You can deduct appraisal fees if you pay them to figure a casualty loss or the fair market value of donated property. State tax return only Casualty and Theft Losses You can deduct a casualty or theft loss as a miscellaneous itemized deduction subject to the 2% limit if you used the damaged or stolen property in performing services as an employee. State tax return only First report the loss in Section B of Form 4684, Casualties and Thefts. State tax return only You may also have to include the loss on Form 4797, Sales of Business Property, if you are otherwise required to file that form. State tax return only To figure your deduction, add all casualty or theft losses from this type of property included on Form 4684, lines 32 and 38b, or Form 4797, line 18a. State tax return only For other casualty and theft losses, see chapter 25. State tax return only Clerical Help and Office Rent You can deduct office expenses, such as rent and clerical help, that you have in connection with your investments and collecting the taxable income on them. State tax return only Credit or Debit Card Convenience Fees You can deduct the convenience fee charged by the card processor for paying your income tax (including estimated tax payments) by credit or debit card. State tax return only The fees are deductible in the year paid. State tax return only Depreciation on Home Computer You can deduct depreciation on your home computer if you use it to produce income (for example, to manage your investments that produce taxable income). State tax return only You generally must depreciate the computer using the straight line method over the Alternative Depreciation System (ADS) recovery period. State tax return only But if you work as an employee and also use the computer in that work, see Publication 946. State tax return only Excess Deductions of an Estate If an estate's total deductions in its last tax year are more than its gross income for that year, the beneficiaries succeeding to the estate's property can deduct the excess. State tax return only Do not include deductions for the estate's personal exemption and charitable contributions when figuring the estate's total deductions. State tax return only The beneficiaries can claim the deduction only for the tax year in which, or with which, the estate terminates, whether the year of termination is a normal year or a short tax year. State tax return only For more information, see Termination of Estate in Publication 559, Survivors, Executors, and Administrators. State tax return only Fees to Collect Interest and Dividends You can deduct fees you pay to a broker, bank, trustee, or similar agent to collect your taxable bond interest or dividends on shares of stock. State tax return only But you cannot deduct a fee you pay to a broker to buy investment property, such as stocks or bonds. State tax return only You must add the fee to the cost of the property. State tax return only You cannot deduct the fee you pay to a broker to sell securities. State tax return only You can use the fee only to figure gain or loss from the sale. State tax return only See the Instructions for Form 8949 for information on how to report the fee. State tax return only Hobby Expenses You can generally deduct hobby expenses, but only up to the amount of hobby income. State tax return only A hobby is not a business because it is not carried on to make a profit. State tax return only See Activity not for profit in chapter 12 under Other Income. State tax return only Indirect Deductions of Pass-Through Entities Pass-through entities include partnerships, S corporations, and mutual funds that are not publicly offered. State tax return only Deductions of pass-through entities are passed through to the partners or shareholders. State tax return only The partners or shareholders can deduct their share of passed-through deductions for investment expenses as miscellaneous itemized deductions subject to the 2% limit. State tax return only Example. State tax return only You are a member of an investment club that is formed solely to invest in securities. State tax return only The club is treated as a partnership. State tax return only The partnership's income is solely from taxable dividends, interest, and gains from sales of securities. State tax return only In this case, you can deduct your share of the partnership's operating expenses as miscellaneous itemized deductions subject to the 2% limit. State tax return only However, if the investment club partnership has investments that also produce nontaxable income, you cannot deduct your share of the partnership's expenses that produce the nontaxable income. State tax return only Publicly offered mutual funds. State tax return only   Publicly offered mutual funds do not pass deductions for investment expenses through to shareholders. State tax return only A mutual fund is “publicly offered” if it is: Continuously offered pursuant to a public offering, Regularly traded on an established securities market, or Held by or for at least 500 persons at all times during the tax year. State tax return only   A publicly offered mutual fund will send you a Form 1099-DIV, Dividends and Distributions, or a substitute form, showing the net amount of dividend income (gross dividends minus investment expenses). State tax return only This net figure is the amount you report on your return as income. State tax return only You cannot further deduct investment expenses related to publicly offered mutual funds because they are already included as part of the net income amount. State tax return only Information returns. State tax return only   You should receive information returns from pass-through entities. State tax return only Partnerships and S corporations. State tax return only   These entities issue Schedule K-1, which lists the items and amounts you must report and identifies the tax return schedules and lines to use. State tax return only Nonpublicly offered mutual funds. State tax return only   These funds will send you a Form 1099-DIV, Dividends and Distributions, or a substitute form, showing your share of gross income and investment expenses. State tax return only You can claim the expenses only as a miscellaneous itemized deduction subject to the 2% limit. State tax return only Investment Fees and Expenses You can deduct investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your investments that produce taxable income. State tax return only Legal Expenses You can usually deduct legal expenses that you incur in attempting to produce or collect taxable income or that you pay in connection with the determination, collection, or refund of any tax. State tax return only You can also deduct legal expenses that are: Related to either doing or keeping your job, such as those you paid to defend yourself against criminal charges arising out of your trade or business, For tax advice related to a divorce, if the bill specifies how much is for tax advice and it is determined in a reasonable way, or To collect taxable alimony. State tax return only You can deduct expenses of resolving tax issues relating to profit or loss from business (Schedule C or C-EZ), rentals or royalties (Schedule E), or farm income and expenses (Schedule F), on the appropriate schedule. State tax return only You deduct expenses of resolving nonbusiness tax issues on Schedule A (Form 1040). State tax return only See Tax Preparation Fees , earlier. State tax return only Loss on Deposits For information on whether, and if so, how, you may deduct a loss on your deposit in a qualified financial institution, see Loss on Deposits in chapter 25. State tax return only Repayments of Income If you had to repay an amount that you included in income in an earlier year, you may be able to deduct the amount you repaid. State tax return only If the amount you had to repay was ordinary income of $3,000 or less, the deduction is subject to the 2% limit. State tax return only If it was more than $3,000, see Repayments Under Claim of Right under Deductions Not Subject to the 2% Limit, later. State tax return only Repayments of Social Security Benefits For information on how to deduct your repayments of certain social security benefits, see Repayments More Than Gross Benefits in chapter 11. State tax return only Safe Deposit Box Rent You can deduct safe deposit box rent if you use the box to store taxable income-producing stocks, bonds, or investment-related papers and documents. State tax return only You cannot deduct the rent if you use the box only for jewelry, other personal items, or tax-exempt securities. State tax return only Service Charges on Dividend Reinvestment Plans You can deduct service charges you pay as a subscriber in a dividend reinvestment plan. State tax return only These service charges include payments for: Holding shares acquired through a plan, Collecting and reinvesting cash dividends, and Keeping individual records and providing detailed statements of accounts. State tax return only Trustee's Administrative Fees for IRA Trustee's administrative fees that are billed separately and paid by you in connection with your individual retirement arrangement (IRA) are deductible (if they are ordinary and necessary) as a miscellaneous itemized deduction subject to the 2% limit. State tax return only For more information about IRAs, see chapter 17. State tax return only Deductions Not Subject to the 2% Limit You can deduct the items listed below as miscellaneous itemized deductions. State tax return only They are not subject to the 2% limit. State tax return only Report these items on Schedule A (Form 1040), line 28. State tax return only List of Deductions Each of the following items is discussed in detail after the list (except where indicated). State tax return only Amortizable premium on taxable bonds. State tax return only Casualty and theft losses from income- producing property. State tax return only Federal estate tax on income in respect of a decedent. State tax return only Gambling losses up to the amount of gambling winnings. State tax return only Impairment-related work expenses of persons with disabilities. State tax return only Loss from other activities from Schedule K-1 (Form 1065-B), box 2. State tax return only Losses from Ponzi-type investment schemes. State tax return only See Losses from Ponzi-type investment schemes under Theft in chapter 25. State tax return only Repayments of more than $3,000 under a claim of right. State tax return only Unrecovered investment in an annuity. State tax return only Amortizable Premium on Taxable Bonds In general, if the amount you pay for a bond is greater than its stated principal amount, the excess is bond premium. State tax return only You can elect to amortize the premium on taxable bonds. State tax return only The amortization of the premium is generally an offset to interest income on the bond rather than a separate deduction item. State tax return only Part of the premium on some bonds may be a miscellaneous deduction not subject to the 2% limit. State tax return only For more information, see Amortizable Premium on Taxable Bonds in Publication 529, and Bond Premium Amortization in chapter 3 of Publication 550, Investment Income and Expenses. State tax return only Casualty and Theft Losses of Income-Producing Property You can deduct a casualty or theft loss as a miscellaneous itemized deduction not subject to the 2% limit if the damaged or stolen property was income-producing property (property held for investment, such as stocks, notes, bonds, gold, silver, vacant lots, and works of art). State tax return only First, report the loss in Form 4684, Section B. State tax return only You may also have to include the loss on Form 4797, Sales of Business Property if you are otherwise required to file that form. State tax return only To figure your deduction, add all casualty or theft losses from this type of property included on Form 4684, lines 32 and 38b, or Form 4797, line 18a. State tax return only For more information on casualty and theft losses, see chapter 25. State tax return only Federal Estate Tax on Income in Respect of a Decedent You can deduct the federal estate tax attributable to income in respect of a decedent that you as a beneficiary include in your gross income. State tax return only Income in respect of the decedent is gross income that the decedent would have received had death not occurred and that was not properly includible in the decedent's final income tax return. State tax return only See Publication 559 for more information. State tax return only Gambling Losses Up to the Amount of Gambling Winnings You must report the full amount of your gambling winnings for the year on Form 1040, line 21. State tax return only You deduct your gambling losses for the year on Schedule A (Form 1040), line 28. State tax return only You cannot deduct gambling losses that are more than your winnings. State tax return only You cannot reduce your gambling winnings by your gambling losses and report the difference. State tax return only You must report the full amount of your winnings as income and claim your losses (up to the amount of winnings) as an itemized deduction. State tax return only Therefore, your records should show your winnings separately from your losses. State tax return only Diary of winnings and losses. State tax return only You must keep an accurate diary or similar record of your losses and winnings. State tax return only Your diary should contain at least the following information. State tax return only The date and type of your specific wager or wagering activity. State tax return only The name and address or location of the gambling establishment. State tax return only The names of other persons present with you at the gambling establishment. State tax return only The amount(s) you won or lost. State tax return only See Publication 529 for more information. State tax return only Impairment-Related Work Expenses If you have a physical or mental disability that limits your being employed, or substantially limits one or more of your major life activities, such as performing manual tasks, walking, speaking, breathing, learning, and working, you can deduct your impairment-related work expenses. State tax return only Impairment-related work expenses are ordinary and necessary business expenses for attendant care services at your place of work and for other expenses in connection with your place of work that are necessary for you to be able to work. State tax return only Self-employed. State tax return only   If you are self-employed, enter your impairment-related work expenses on the appropriate form (Schedule C, C-EZ, E, or F) used to report your business income and expenses. State tax return only Loss From Other Activities From Schedule K-1 (Form 1065-B), Box 2 If the amount reported in Schedule K-1 (Form 1065-B), box 2, is a loss, report it on Schedule A (Form 1040), line 28. State tax return only It is not subject to the passive activity limitations. State tax return only Repayments Under Claim of Right If you had to repay more than $3,000 that you included in your income in an earlier year because at the time you thought you had an unrestricted right to it, you may be able to deduct the amount you repaid or take a credit against your tax. State tax return only See Repayments in chapter 12 for more information. State tax return only Unrecovered Investment in Annuity A retiree who contributed to the cost of an annuity can exclude from income a part of each payment received as a tax-free return of the retiree's investment. State tax return only If the retiree dies before the entire investment is recovered tax free, any unrecovered investment can be deducted on the retiree's final income tax return. State tax return only See chapter 10 for more information about the tax treatment of pensions and annuities. State tax return only Nondeductible Expenses Examples of nondeductible expenses are listed next. State tax return only The list is followed by discussions of additional nondeductible expenses. State tax return only List of Nondeductible Expenses Broker's commissions that you paid in connection with your IRA or other investment property. State tax return only Burial or funeral expenses, including the cost of a cemetery lot. State tax return only Capital expenses. State tax return only Fees and licenses, such as car licenses, marriage licenses, and dog tags. State tax return only Hobby losses, but see Hobby Expenses , earlier. State tax return only Home repairs, insurance, and rent. State tax return only Illegal bribes and kickbacks. State tax return only See Bribes and kickbacks in chapter 11 of Publication 535. State tax return only Losses from the sale of your home, furniture, personal car, etc. State tax return only Personal disability insurance premiums. State tax return only Personal, living, or family expenses. State tax return only The value of wages never received or lost vacation time. State tax return only Adoption Expenses You cannot deduct the expenses of adopting a child, but you may be able to take a credit for those expenses. State tax return only See chapter 37. State tax return only Campaign Expenses You cannot deduct campaign expenses of a candidate for any office, even if the candidate is running for reelection to the office. State tax return only These include qualification and registration fees for primary elections. State tax return only Legal fees. State tax return only   You cannot deduct legal fees paid to defend charges that arise from participation in a political campaign. State tax return only Check-Writing Fees on Personal Account If you have a personal checking account, you cannot deduct fees charged by the bank for the privilege of writing checks, even if the account pays interest. State tax return only Club Dues Generally, you cannot deduct the cost of membership in any club organized for business, pleasure, recreation, or other social purpose. State tax return only This includes business, social, athletic, luncheon, sporting, airline, hotel, golf, and country clubs. State tax return only You cannot deduct dues paid to an organization if one of its main purposes is to: Conduct entertainment activities for members or their guests, or Provide members or their guests with access to entertainment facilities. State tax return only Dues paid to airline, hotel, and luncheon clubs are not deductible. State tax return only Commuting Expenses You cannot deduct commuting expenses (the cost of transportation between your home and your main or regular place of work). State tax return only If you haul tools, instruments, or other items, in your car to and from work, you can deduct only the additional cost of hauling the items such as the rent on a trailer to carry the items. State tax return only Fines or Penalties You cannot deduct fines or penalties you pay to a governmental unit for violating a law. State tax return only This includes an amount paid in settlement of your actual or potential liability for a fine or penalty (civil or criminal). State tax return only Fines or penalties include parking tickets, tax penalties, and penalties deducted from teachers' paychecks after an illegal strike. State tax return only Health Spa Expenses You cannot deduct health spa expenses, even if there is a job requirement to stay in excellent physical condition, such as might be required of a law enforcement officer. State tax return only Home Security System You cannot deduct the cost of a home security system as a miscellaneous deduction. State tax return only However, you may be able to claim a deduction for a home security system as a business expense if you have a home office. State tax return only See Home Office under Unreimbursed Employee Expenses, earlier, and Security System under Deducting Expenses in Publication 587. State tax return only Investment-Related Seminars You cannot deduct any expenses for attending a convention, seminar, or similar meeting for investment purposes. State tax return only Life Insurance Premiums You cannot deduct premiums you pay on your life insurance. State tax return only You may be able to deduct, as alimony, premiums you pay on life insurance policies assigned to your former spouse. State tax return only See chapter 18 for information on alimony. State tax return only Lobbying Expenses You generally cannot deduct amounts paid or incurred for lobbying expenses. State tax return only These include expenses to: Influence legislation, Participate or intervene in any political campaign for, or against, any candidate for public office, Attempt to influence the general public, or segments of the public, about elections, legislative matters, or referendums, or Communicate directly with covered executive branch officials in any attempt to influence the official actions or positions of those officials. State tax return only Lobbying expenses also include any amounts paid or incurred for research, preparation, planning, or coordination of any of these activities. State tax return only Dues used for lobbying. State tax return only   If a tax-exempt organization notifies you that part of the dues or other amounts you pay to the organization are used to pay nondeductible lobbying expenses, you cannot deduct that part. State tax return only See Lobbying Expenses in Publication 529 for information on exceptions. State tax return only Lost or Mislaid Cash or Property You cannot deduct a loss based on the mere disappearance of money or property. State tax return only However, an accidental loss or disappearance of property can qualify as a casualty if it results from an identifiable event that is sudden, unexpected, or unusual. State tax return only See chapter 25. State tax return only Example. State tax return only A car door is accidentally slammed on your hand, breaking the setting of your diamond ring. State tax return only The diamond falls from the ring and is never found. State tax return only The loss of the diamond is a casualty. State tax return only Lunches with Co-workers You cannot deduct the expenses of lunches with co-workers, except while traveling away from home on business. State tax return only See chapter 26 for information on deductible expenses while traveling away from home. State tax return only Meals While Working Late You cannot deduct the cost of meals while working late. State tax return only However, you may be able to claim a deduction if the cost of meals is a deductible entertainment expense, or if you are traveling away from home. State tax return only See chapter 26 for information on deductible entertainment expenses and expenses while traveling away from home. State tax return only Personal Legal Expenses You cannot deduct personal legal expenses such as those for the following. State tax return only Custody of children. State tax return only Breach of promise to marry suit. State tax return only Civil or criminal charges resulting from a personal relationship. State tax return only Damages for personal injury, except for certain unlawful discrimination and whistleblower claims. State tax return only Preparation of a title (or defense or perfection of a title). State tax return only Preparation of a will. State tax return only Property claims or property settlement in a divorce. State tax return only You cannot deduct these expenses even if a result of the legal proceeding is the loss of income-producing property. State tax return only Political Contributions You cannot deduct contributions made to a political candidate, a campaign committee, or a newsletter fund. State tax return only Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate are not deductible. State tax return only Professional Accreditation Fees You cannot deduct professional accreditation fees such as the following. State tax return only Accounting certificate fees paid for the initial right to practice accounting. State tax return only Bar exam fees and incidental expenses in securing initial admission to the bar. State tax return only Medical and dental license fees paid to get initial licensing. State tax return only Professional Reputation You cannot deduct expenses of radio and TV appearances to increase your personal prestige or establish your professional reputation. State tax return only Relief Fund Contributions You cannot deduct contributions paid to a private plan that pays benefits to any covered employee who cannot work because of any injury or illness not related to the job. State tax return only Residential Telephone Service You cannot deduct any charge (including taxes) for basic local telephone service for the first telephone line to your residence, even if it is used in a trade or business. State tax return only Stockholders' Meetings You cannot deduct transportation and other expenses you pay to attend stockholders' meetings of companies in which you own stock but have no other interest. State tax return only You cannot deduct these expenses even if you are attending the meeting to get information that would be useful in making further investments. State tax return only Tax-Exempt Income Expenses You cannot deduct expenses to produce tax-exempt income. State tax return only You cannot deduct interest on a debt incurred or continued to buy or carry  tax-exempt securities. State tax return only If you have expenses to produce both taxable and tax-exempt income, but you cannot identify the expenses that produce each type of income, you must divide the expenses based on the amount of each type of income to determine the amount that you can deduct. State tax return only Example. State tax return only During the year, you received taxable interest of $4,800 and tax-exempt interest of $1,200. State tax return only In earning this income, you had total expenses of $500 during the year. State tax return only You cannot identify the amount of each expense item that is for each income item. State tax return only Therefore, 80% ($4,800/$6,000) of the expense is for the taxable interest and 20% ($1,200/$6,000) is for the tax-exempt interest. State tax return only You can deduct, subject to the 2% limit, expenses of $400 (80% of $500). State tax return only Travel Expenses for Another Individual You generally cannot deduct travel expenses you pay or incur for a spouse, dependent, or other individual who accompanies you (or your employee) on business or personal travel unless the spouse, dependent, or other individual is an employee of the taxpayer, the travel is for a bona fide business purpose, and such expenses would otherwise be deductible by the spouse, dependent, or other individual. State tax return only See chapter 26 for more information on deductible travel expenses. State tax return only Voluntary Unemployment Benefit Fund Contributions You cannot deduct voluntary unemployment benefit fund contributions you make to a union fund or a private fund. State tax return only However, you can deduct contributions as taxes if state law requires you to make them to a state unemployment fund that covers you for the loss of wages from unemployment caused by business conditions. State tax return only Wristwatches You cannot deduct the cost of a wristwatch, even if there is a job requirement that you know the correct time to properly perform your duties. State tax return only Prev  Up  Next   Home   More Online Publications