美国个人所得税部分总结!!!

Chapter 5 Itemized Deductions

Medical Expenses

Over 7.5%AGI is deductable

Weight-loss program (unless prescribed by doctor) ×

Diet food ×

Marriage counseling ×

Cosmetic surgery (除非先天问题或者事故) ×

Medical insurance premium（保险费）√

Long-term care insurance(根据年龄到一定数额) √

Life insurance

If paid out to a beneficiary in lump sum-----not included as income

If receive monthly, the additional interest received above the lump sum is taxable Transportation

16.5 cents per mile (out-of-pocket expense, gas oil)

Parking& toll fees √

Lodging

$50 per person per night (up to 2 people)

TAX

Taxes are generally deductible, fees are not deductible

Fees (postage, fishing licenses, dog tags)

Personal property tax-----car

Gasoline taxes ×

Excise taxes ×

Income Taxes VS. Sales Taxes(no income taxes or low income taxes)

Deductions = state and local taxes withheld from wages

+

Any amounts actually paid during the year

如果去年用的是standard deduction, 今年收到的refund 不用加到income

Sales taxes---a.实际交的的消费税 b.IRS table+车，船，飞机的销售税

Property

Special assessments charged to provide local benefit to property owners are not deductible-----建人行道等

Service fees(garbage fees, homeowner association fees) ×

Personal property taxes

Levied Based on value of the property

Interest

The interests on loans for personal purposes are not deductible (Bank charge card interest,

finance charges, automobile loan interest)

Service charges

Credit investigation fees

Loan fees other than “points”

Interest paid to carry single premium life insurance

Premium on convertible bonds

Taxpayer’s Obligation

只有付自己的债的interest 才能deduct，而且双方必须都希望loan to be paid 才能成立Prepaid Interest

Prepaid interest is deduction spread over the life of the loan

“points” paid to a mortgage for the purchase of a personal residence maybe deducted in the year they are paid

“Points” paid to refinance a home mortgage ar e not deductible when paid, but must be capitalized and the deduction spread over the life of the loan

“Points” charged for specific loan services such as lender’s appraisal fee and other settlement fees--------not deductible

Qualified Residence, Home Equity, and Consumer Interest

Consumer interest---interest on credit card, loan for personal automobiles ×Qualified Residence interest (1.1million) =qualified residence acquisition debt (1 million (0.5 million MFS)) + qualified home equity debt (100,000(50,000 MFS)) Acquisition debt---要拿第一个或第二个房子担保拿到的钱(花费和房子有关) Home equity debt---通过担保拿到的钱（非Acquisition debt）

qualified home equity debt you 和Fair value of the house有关

1,050,000 房子只有50,000 of home equity debt will qualify for interest deduction Education Loan Interest

Single AGI $60,000~75,000

Married AGI $120,000~150,000

------deduct interest $2,500

Investment Interest

Net investment income=income like dividends and interest – investment expense Net investment income exceeds investment interest 超过的部分可以carry over

没有deduct 的可以carry over到下一年

Contributions

Donation must be cash or property

Free use of the property by the charitable organization ×