Itemize

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Itemize

To list a specific expense the taxpayer has had over the course of the tax year in order to reduce one's taxable income. One may itemize most medical expenses, for example, and deduct them from one's taxable income. The same is the case for interest on mortgages and business expenses. The IRS allows itemized deductions as an alternative to the standard deduction, which takes a flat amount out of one's taxable income. Itemized deductions are subject to certain restrictions; for example, some expenses must exceed a certain percentage of the adjusted gross income to be deductible.
References in periodicals archive ?
Distant Prospect, who was eight lengths behind Itemise at Doncaster, was beaten a bit less than that in the Cesarewitch on ground that would have been plenty fast enough for him.
The biggest reason for not putting up Itemise as a bet was a worry whether the price would be big enough.
Another who will be prominent in the betting against Itemise is Flying Wanda but I'm not at all convinced she is as good over this distance as she is at a mile and a half.