Test Your Tax IQ: What's Deductible When You Itemize?

Do You Know What's Involved With Itemizing on Your Tax Return?

Updated June 02, 2017

1. What does it mean to itemize deductions on your tax return?

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2. How much of what you spent on medical expenses is tax deductible?

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3. Which medical expenses qualify as tax deductible?

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4. Which taxes are deductible when you itemize?

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5. Which charitable donations are tax deductible when you itemize?

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6. Can you deduct expenses you incur in the course of doing your job?

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7. Can you deduct costs associated with owning a home?

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8. What are "miscellaneous" itemized deductions?

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9. Can all taxpayers itemize?

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Test Your Tax IQ: What's Deductible When You Itemize?

You got: % Correct. Not So Good

I got Not So Good. Test Your Tax IQ: What's Deductible When You Itemize?
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You don't have to know a lot about itemizing if you use quality tax preparation software. The program will determine whether itemizing is in your best interest. It will ask you questions to determine what you spent on qualifying expenses and how much you can deduct. 

Test Your Tax IQ: What's Deductible When You Itemize?

You got: % Correct. Not Bad at All

I got Not Bad at All. Test Your Tax IQ: What's Deductible When You Itemize?
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You’re no tax slouch — you have a pretty good grip on the rules. But don’t take a stab in the dark if you’re unsure about any itemizing details. Consult with a tax professional before you commit to filing your tax return.  

Test Your Tax IQ: What's Deductible When You Itemize?

You got: % Correct. You're a Tax Pro

I got You're a Tax Pro. Test Your Tax IQ: What's Deductible When You Itemize?
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You’re practically a pro. You pretty much know exactly what’s deductible when you itemize and to what extent. But you can still take a lot of the hassle out of tax time by using preparation software or enlisting the services of a tax professional.