Individual Income Tax - Itemized Deductions  

Taxpayers have a choice either to itemize deductions or to take the standard deduction each year and, of course, will want to select the most advantageous method that will lower their tax. In order to do this, it is necessary to know what expenses are allowed as deductions. This course is designed to provide a basic understanding of itemized deductions and discusses the different categories of, and limitations on, itemized deductions. Medical and dental expense, taxes, interest, charitable donations, casualty and theft losses, and other miscellaneous deductions are discussed in detail.

NOTE: This course is updated to reflect inflationary adjustments included in IRS Rev. Proc. 2023-34, as well as standard mileage rates included in IRS Notice 2024-8.

By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.