Employees cannot deduct any unreimbursed employee business expenses in 2018 through 2025. However, you may be eligible for certain “above-the-line” deductions that can be taken without itemizing, such as contributions to a traditional IRA and to a health savings account. Check the IRS instructions for eligibility to make these contributions.
A statutory term used to figure your profit or loss on a sale or exchange. Generally, it is sales proceeds plus mortgages assumed or taken subject to, less transaction expenses, such as commissions and legal costs.