What personal expenses are usually Tax-Deductible in the USA?

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Ben McCarty Posted

What personal expenses are usually Tax-Deductible in the USA?

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Shyam Arvind

Taxes You Paid

  • State and local income taxes or general sales tax

  • Foreign income tax

  • Estimated tax payments

  • Prior year’s state and local income tax you paid during the tax year (do not include penalties).

  • Disability insurance tax (some states)
  • Occupational taxes
  • Real estate tax (state, local or foreign). 

  • Portion of condo and coop maintenance that includes real estate tax.

  • Personal property taxes based on value.  This includes auto registration or licensing fees, but only the portion based on value, and only if charged on a yearly basis.  Varies by state.