- 1Distinguish between deductible and nondeductible personal expenses.
- 2Define medical expenses and compute the medical expense deduction.
- 3Contrast deductible taxes with nondeductible fees, licenses, and other charges.
- 4Explain the Federal income tax treatment of property taxes, state and local income taxes, and sales taxes.
- 5Distinguish between deductible and nondeductible interest and apply the appropriate limitations to deductible interest.
- 6Recognize charitable contributions and identify their related measurement problems and percentage limitations.
- 7List the expenses that are deductible as other itemized deductions.
- 8Identify tax planning strategies that can maximize the benefit of itemized deductions.
