Qualified Business Income Deduction (QBID) You may deduct 20% of qualified business income from a partnership, S corporation, LLC, or sole proprietorship. In the case of a partnership or S corporation, the deduction appli...

Interest That Is Deductible as an Itemized Deduction Home mortgage interest paid that is acquisition debt, subject to limitations. Points and loan origination fees to obtain a mortgage or to refinance a mortgage. Mortgage...

Federally-Declared Disaster Areas A personal casualty loss is deductible (subject to limitations) only if such loss is attributable to a federally-declared disaster. A federally-declared disaster is any disaster determine...