Re: Want to lower tax refund amount but how?
Mortgage interest unlimited unless it is from a home equity loan which has a limitation of $100,000 principal. Expenses from work is deductible on form 2106 and is subject to to 2% of your AGI but money spent there can be totally deductible if put under under a Sec 125 cafeteria plan. In general cash donations are fully deductible and it should be accompanied a verification note from the donee There are some limitations for donating on things like art and stock that has appreciated which has a percentage limitation and the theoretical gain must be included in your alternative minimum tax calculation. Noncash donations on large items like cars must receive an auction value from the donee and any donation over $500 must be accompanied by form 8283.
Note if your itemized deductions are 44% of your AGI its a red flag for audit.
As for prepaying a mortgage it won't increase your interest expense one cent as you are paying off principal and not interest.
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