Income Tax Deductions
Taxpayers can opt to take a standard deduction (a flat dollar amount that reduces taxable income) or itemize their deductions instead. The standard deduction amount varies by a person's filing status, age, and whether they are blind.
Moving Expenses Tax Deduction
If you moved to start a new job, or to seek work in a new city, you may be able to deduct the cost of your moving expenses from your income. Moving expenses are subject to a time and distance test. Find out if you qualify to deduct your moving expenses.
Classroom Expenses Deduction
If you are a teacher, and you paid for classroom supplies and other materials out of your own pocket, you can claim those expenses on Form 1040 line 23.