INTEGRITY
SERVICE
TAX DEDUCTIONS
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EDUCATION
PERSPECTIVE
COMMUNICATION
QUESTIONS
 



Intangible assets (as defined in Code Sec. 197)
Interest and carrying charges related to a commodity straddle position in excess of income generated by straddle position
Interest (with exceptions and limitations, see below)
. education loans (limited)
. interest related to tax-exempt income
. interest related to life insurance contracts (limited)
. personal obligations (limited)
. points, purchase of residence
. prepaid
. property held for production of rent or royalties
. trade or business debts
Interest forfeiture
. premature withdrawal from time savings account
Interest on tax deficiencies
. corporation
. individual, generally
. . related to trade or business
. underpayment attributable to nondisclosed reportable transaction
Investigatory costs
. acquisition of specific business
. . business search
Investor's expenses (except incurred in earning tax-exempt interest)
ISO 9000 costs
Job hunting expenses
. new trade or business
. resume preparation costs
. same trade or business
. travel and transportation to new area
Jockey's riding apparel
Labor union dues
Laundry, dry cleaning, pressing charges (business travel)
Legal expenses and fees
. business
. investors
. production of income
. tax determination
Legislators
. congressional living expenses, away from home
. . expenses of moving to capital
. state
. . local transportation
. . meals and lodging
. . travel expenses
License fees
. treated as personal property tax
Life insurance premiums, debts incurred to purchase, paid by employer
. employee or other beneficiary
. employer beneficiary
Loan cost—stock reacquisition
Lobbying expense
. appearances before legislative bodies
. expenditures to influence voters
. professional lobbyist's expenses
Losses
. gambling (trade or business)
. net operating loss
. sale or exchange of property
. . business property
. . related parties
. . capital assets (business motive)
. theft or casualty
. . individual property
. . rent- or royalty-generating property
. worthless stock and securities
Lump sum distribution-ordinary income portion
Machinery
. incidental repairs
Materials and supplies, business (incidentals)
Maternity clothes
Meals provided for employees
. employer's cost of providing meals on premises
. meals directly related to business
Medical, dental and hospital expenses (to the extent exceeding 7.5% of adjusted gross income) (for a detailed list of such expenses, see ¶59)
Medical, dental and hospital expenses less than 7.5% of adjusted gross income
Medical insurance premiums (see ¶59)
Medical savings account
Mine development expenditures
Mine exploration expenditures
Mortgages
. insurance premiums (2007-2010)
. interest
Moving expenses
. meals
. other expenses
. . employee, reimbursed
. . employee, unreimbursed
. . self employed
Moving machinery
Musician's clothing, used exclusively in business

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