![]() (10) The deduction under section 213 (relating to medical and dental expenses), (9) The deduction under section 171 (relating to deductions for amortizable bond premiums), (8) The deduction under section 170 (relating to charitable contributions and gifts), ![]() (7) The deduction under section 165(a) for losses described in subsection (c)(3) or (d) of section 165, (6) The deduction under section 164 (relating to taxes), (5) The deduction under section 163 (relating to interest), (4) The deductions allowable under section 151 for personal exemptions, (3) The deduction under section 72(b)(3) (relating to deductions if annuity payments cease before the investment is recovered), (2) Any deduction allowable for impairment-related work expenses as defined in section 67(d), ![]() (1) The standard deduction as defined in section 63(c), For purposes of this section, the term “miscellaneous itemized deductions” means the deductions allowable from adjusted gross income in determining taxable income, as defined in section 63, other than. (b) Definition of miscellaneous itemized deductions. For example, in the case of an expense for food or beverages, only 80 percent of which is allowable as a deduction because of the limitations provided in section 274(n), the otherwise deductible 80 percent of the expense is treated as a miscellaneous itemized deduction and is subject to the 2-percent limitation of section 67. Except as otherwise provided in paragraph (d) of this section, to the extent that any limitation or restriction is placed on the amount of a miscellaneous itemized deduction, that limitation shall apply prior to the application of the 2-percent floor. See section 62 with respect to deductions that are allowable in computing adjusted gross income ( i.e., so-called “above-the-line” deductions). (iv) Expenses for an activity for which a deduction is otherwise allowable under section 183. (iii) Expenses for the determination of any tax for which a deduction is otherwise allowable under section 212(3), such as tax counsel fees and appraisal fees, and (ii) Expenses for the production or collection of income for which a deduction is otherwise allowable under section 212 (1) and (2), such as investment advisory fees, subscriptions to investment advisory publications, certain attorneys' fees, and the cost of safe deposit boxes, (i) Unreimbursed employee expenses, such as expenses for transportation, travel fares and lodging while away from home, business meals and entertainment, continuing education courses, subscriptions to professional journals, union or professional dues, professional uniforms, job hunting, and the business use of the employee's home. ![]() ![]() Examples of expenses that, if otherwise deductible, are subject to the 2-percent floor include but are not limited to. With respect to individuals, section 67 disallows deductions for miscellaneous itemized deductions (as defined in paragraph (b) of this section) in computing taxable income ( i.e., so-called “below-the-line” deductions) to the extent that such otherwise allowable deductions do not exceed 2 percent of the individual's adjusted gross income (as defined in section 62 and the regulations thereunder). (a) Type of expenses subject to the floor-(1) In general. § 1.67-1T 2-percent floor on miscellaneous itemized deductions (temporary). ![]()
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