Peter rents a house he owns to tenants. Are the expenses he incurs from his rental activity For AGI or From AGI expenses? Why?

Why does the distinction between a For AGI and a From AGI deduction matter to individual taxpayers?

When can a taxpayer using the cash basis of accounting deduct prepaid business expenses in the year of payment?

Melissa and Doug are married. As a hobby, they raise and race thoroughbred horses. In addition, Doug earns $60,000 in annual salary at his full-time job, and Melissa earns $70,000 in salary at her full-time job. During the current tax year, Melissa and Doug earned $4,000 in prizes from placing in various horse races. They spent $3,000 in food and veterinary costs and $2,000 in travel expenses to attend races around the country. How should Melissa and Doug report their horse-racing income and expenses on their joint tax return for the year?

What is a "wash sale"? What is the purpose of the wash sale tax rules?

How does the Internal Revenue Code define cosmetic surgery and does it allow for deduction of such surgery as a medical expense?

What is the limit, if any, on the amount of medical expense deduction that a taxpayer may claim on his or her federal income tax return?