Is It Tax Deductible?

Tax Deductions: Can You Tell If These Are Legit?


The tax code is chock full of tax deductions that can save you a boatload of money. But there's also a lot of bad information about tax deductions floating around. For instance, a friend might tell you about a deduction that isn't even real—or at least isn't available anymore. Or you might see something on the internet telling you to take a deduction that you're not actually qualified to claim.

Understanding which deductions you can take and which ones you can't is critical. When it comes to how much tax you must pay, knowledge really is power. That's why we pulled together this list of deduction-related FAQs from visitors to

See if you can separate the legitimate deductions from the ones that would trigger a "not so fast, buddy" response from the IRS. Good luck!

SEE ALSO: The Most-Overlooked Tax Breaks and Deductions

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