If you neglected to take a credit or deduction you were entitled to or possibly had a dependent that you could have claimed but didn’t, you can amend your return and get more money.
Items sometimes missed on tax returns:
- Traditional IRA contributions
- Depending on your income level, there is a Retirement Savings Credit for putting money into a Roth, 401k, or similar plan.
- There are various reasons to make sure your tax preparer knows you put money into a Roth IRA.
- Health savings account contributions
- If you have enough to itemize:
- Charitable contributions
- Real estate taxes paid for ALL property you own (timeshare real estate tax also; land)
- Interest on loans for your residence or second home including a boat/camper that has at least one place to sleep, permanent kitchen area, and a place
- to go potty….even if it is a porta-potty
- Interest on up to $1.1 million of debt secured by your first or second home that was used to acquire or improve the properties
- Medical over 10% of your income including glasses, contacts, hearing aids, medical supplies, mileage to medical appointments and to get prescriptions
- Education expenses including books purchased for college
- Earned income tax credit
- Child care credit for summer day camps
- On the Ohio tax return: contributions to a 529 College Savings Plan