Under the United States tax law, itemized breaks are eligible costs that may be taxed by individual taxpayers on federal income tax returns and which lower their taxable income, and may be claimed in lieu of standard, if available.
Most taxpayers are allowed to choose between itemized and standard deductions. After calculating the adjusted gross income (AGI), taxpayers may specify deductions (from the list of allowed items) and reduce the itemized breaks (and any applicable personal deduction deductions) from their AGI amount to arrive at taxable income. Alternatively, they may choose to reduce standard deductions for their filing status (and any applicable deductions of personal exemption) to arrive at taxable income. In other words, the taxpayer can generally reduce the total number of detailed deductions, or the amount of standard deductions applicable, whichever is greater.
The choice between standard reduction and breakdown involves a number of considerations:
- Only a taxpayer qualifies for a default deduction that can select it.
- US. citizens and foreigners residing for tax purposes are entitled to claim standard deductions. Non-resident aliens are not eligible.
- If the taxpayer filed as "married, filed separately", and his spouse details, then the taxpayer can not claim a standard deduction. In other words, a taxpayer whose partner affirms deductions must also specify, or claim "0" (zero) as the number of standard deductions.
- The taxpayer must keep records necessary to strengthen the detailed breakdown.
- If the number of itemized breaks and standard deductions is not much different, the taxpayer can take a standard deduction to reduce the possibility of adjustment by the Internal Revenue Service (IRS). The default deduction amount can not be changed after the audit except the taxpayer filing status changed.
- If the taxpayer is otherwise eligible to submit a shorter tax form such as 1040EZ or 1040A, he or she will choose not to prepare (or pay to prepare) a more complex 1040 Form and associated Schedule A for the itemized item.
- Standard deduction is not allowed to calculate the alternative minimum tax (AMT). If the taxpayer claims a standard deduction for regular income tax, he can not itemize the deduction for AMT. Thus, for taxpayers paying AMT (ie their AMT is higher than ordinary taxes), it may be better to specify deductions, even if it yields results that are smaller than standard deductions.
Reductions are reported in the tax year in which eligible fees are paid. For example, the annual membership fee for professional associations paid in December 2009 for 2010 is deducted in 2009.
Video Itemized deduction
Sample detailed pieces allowed
It is important to distinguish the itemized pieces from other "normal" discount pieces. The reason for this is because the cuts itemized subject range subject to 2% flooring, ie "2% Hair Pieces." A taxpayer can only deduct the amount of withholding item in excess of 2% of their adjusted gross income. For example, if a taxpayer has adjusted a $ 50,000 gross income with $ 4,000 in different deductions, the taxpayer can only deduct $ 3,000, since the first $ 1,000 is below the 2% floor.
There are 12 deductions listed in 26 U.S.C. Ã, § 67 (b). This is not a detailed piece, and therefore not subject to the 2% floor (although they may have their own rules). Any deduction not found in article 67 (b) is a detailed item. Examples include the following.
- Work related clothing or equipment, such as steel-tipped boots, hard hats, uniforms (if unsuitable for social wear: clothing and tuxedos not deducted, even if taxpayers do not like to wear them), but nurse uniforms and police are), equipment and equipment needed to work
- Union Dues
- Unpaid expenses related to work, such as travel or education (as long as education does not meet the requirements of the taxpayer for a new line of work, law school, for example, can not be deducted) (repealed effective January 1, 2018
- Fees paid to the tax builder, or to purchase the books or software used to determine and calculate the tax payable
- Subscriptions to newspapers or other periodicals directly related to someone's work
Maps Itemized deduction
Limitations
If adjusted gross income taxpayers are above the threshold (or "applicable amount"), then the total deductible itemized can be reduced by a lower than
- 3% of the excess gross income adjusted for "applicable amount" (see below); or
- 80% of total deductions specified if not allowed
"Amount applicable" varies according to the filing status (see below).
Sebagai contoh, jika individu yang mengajukan sebagai "kepala rumah tangga" memiliki penghasilan kotor yang disesuaikan adalah $ 500.000 dan satu memiliki $ 20.000 dalam potongan yang diperinci, pertama-tama cari tahu 3% dari kelebihan di atas "jumlah yang dapat diterapkan" (lihat di bawah):
Chemist, 80%, would be total penguranic
Kurangi pengurangan yang diperinci dengan jumlah yang lebih rendah dari jumlah di atas. Dalam hal ini, nilai yang lebih rendah adalah $ 6,750. Dengan demikian, pengurangan total diperinci wajib pajak harus dikurangi dengan $ 6.750, meninggalkan $ 13.250 potongan yang diperinci.
Additionally, the restrictions on these itemized breaks are applied after there are other restrictions. This means that you must first find the total number of itemized breaks allowed, etc., before defining the limit on the total amount of deductions.
Amount Applicable. For 2013, the "applicable amount" under Ã,§ 68 (b) of the Tax Code is as follows:
- $ 300,000 in the case of married couples applying for a joint return or a surviving spouse;
- $ 150,000 in the case of married couples applying separately;
- $ 275,000 for the head of the household;
- $ 250,000 in case of an unmarried individual who is not a spouse or a living head of a household.
In addition, after 2013 the applicable threshold amount is adjusted for inflation.
Phaseout
The limitations of this itemized item have been removed. For fiscal years 2006 and 2007, the amount was reduced to 2/3 of the limit, and for the 2008 and 2009 tax years, the amount was reduced to 1/3 of the limit. This phase was completed on January 1, 2010. But in 2010, Congress extended the lifting of the cutting restrictions detailed into 2012 and in 2011 the revocation was made for voting in Congress. Many MPs want to extend the lifting of detailed cutting restrictions for another 1-2 years (or to make permanent revocations) but the US Taxpayer Assistance Act does return a detailed abatement restriction for 2013 and subsequent years.
Note
External links
- IRS Mileage Rates
Source of the article : Wikipedia
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