Previous Page: Itemized Deductions/Standard Deductions > Gifts & Charitable Contributions Next Page:  Itemized Deductions/Standard Deductions > Medical, Nursing Home, Special Care Expenses  Use  to find additional instances of index items.

Frequently Asked Tax Questions

Itemized Deductions/Standard Deductions - Interest, Investment, Money Transactions (Alimony, Bad Debts, Applicable Federal Interest Rate, Gambling, Legal Fees, Loans, etc.)

---

Rev. date: 1/2009

Is the interest amount that we paid to the IRS deductible?

Interest Expense   Tax Bill/Debt/Liability

Interest and penalties paid to the IRS on Federal taxes are not deductible.

For more information, refer to:

• Items You Cannot Deduct in the Interest Expense chapter in Publication 17, Your Federal Income Tax for Individuals
• Tax Topic 505, Interest Expense

---

Rev. date: 1/2009

Can I deduct alimony paid to my former spouse?

Alimony   Divorced or Separated Spouses/Parents   Ex-spouse

If you are divorced or separated, you may be able to deduct the alimony or separate maintenance payments that you are required to make to your spouse or former spouse, or on behalf of that spouse.

Previous Page: Itemized Deductions/Standard Deductions > Gifts & Charitable Contributions Next Page:  Itemized Deductions/Standard Deductions > Medical, Nursing Home, Special Care Expenses  Use  to find additional instances of index items.