You can deduct interest paid for debts, such as home mortgages and investment interest. Payments made to individuals aren’t deductible. Homeowner’s association fees aren’t deductible.Īrkansas allows you to deduct cash or property contributions made to a qualified organization, which are organizations that have received tax-exempt status from the IRS. You can deduct taxes, including state and local income tax, real estate and foreign income taxes. Deductions include prescriptions, nursing home fees, insurance premiums and other medical related expenses.
You can only claim medical expenses that exceed 10% of your AGI. You can deduct medical and dental expenses you paid for yourself, a spouse or dependent. Here is a list of our partners who offer products that we have affiliate links for. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. Second, we also include links to advertisers' offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers' offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources.
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