Finally, I completed my taxes Wednesday.
Like last year, I went to one of the free sessions offered by AARP at my neighborhood library. Asking for help paid off. The computerized program was able to find deductions I’d missed. My return will be larger than I’d calculated.
Along with forgetting to include your social security number or writing it on the forms incorrectly, missing deductions is one of the most common mistakes taxpayers make, according to the article “The 11 Most Overlooked Tax Deductions” on the Kiplinger page of TurboTax.
Review these commonly missed deductions to see if they apply to you or a member of your boomer family or household:
- State sales tax.
- Reinvested dividends.
- Out-of-pocket charitable contributions.
- Student loan interest paid by mom and dad.
- Moving expenses to take first job.
- Military reservists’ travel expenses.
- Child care credit.
- Estate tax on income in respect of a decedent.
- State tax you paid last spring.
- Refinancing points.
- Jury pay paid to employer.
See the article for details on each deduction.
