Nine Tax Deductions You Shouldn't Even Think About Claiming

Updated
Don't even think about it: nine tax deductions you shouldn't bother taking
Don't even think about it: nine tax deductions you shouldn't bother taking

If you opt to itemize your deductions on your federal income tax return, you'll see a lot of emphasis on saving taxes by not overlooking common deductions. This makes sense because, as a taxpayer, you absolutely have the right to reduce your taxable income by using your available deductions. However, be smart. Make sure you claim those deductions for which you're entitled and steer clear of bogus deductions. To help you out, following is a list of nine deductions that you shouldn't even think about claiming on your tax return:

Advertisement