Taxes

Federal Taxes

What types of deductions will the IRS not allow on IRS Form 1040, Schedule A?

The IRS does not allow such deductions as federal income taxes, Social Security taxes, stamp taxes, transfer taxes on the sale of property, homeowners’ association fees, estate and inheritance taxes, and service charges for water, sewer, or trash collection. You may be subject to a limit on some of your itemized deductions, including non-business taxes. Please refer to the Form 1040 Instructions available at www.irs.gov for the limitations.



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