Tax breaks set to expire at the end of the year include:
-- The deduction of up to $250 for K-12 teachers' out-of-pocket expenses.
-- The above-the-line deduction for tuition and fees for qualified higher
education expenses.
-- The ability to exclude up to $2 million in cancellation-of-debt income in
connection with a qualified principal residence.
-- The deduction of mortgage insurance premiums by homeowners.
-- The Personal Energy Property Credit, a tax credit (with a $500 lifetime
cap) for qualified residential energy efficiency projects.
-- The Qualified Small Business Stock gain exclusion. Qualified Small
Business Stock acquired after Dec. 31 will qualify for a 50-percent gain
exclusion, not the 100-percent exclusion currently allowed.
-- Beginning in 2014, taxpayers can no longer deduct up to $250,000 of
qualified leasehold, restaurant and retail property improvements.
To view the entire list you can download the PDF
-- The above-the-line deduction for tuition and fees for qualified higher education expenses.
-- The ability to exclude up to $2 million in cancellation-of-debt income in connection with a qualified principal residence.
-- The deduction of mortgage insurance premiums by homeowners.
-- The Personal Energy Property Credit, a tax credit (with a $500 lifetime cap) for qualified residential energy efficiency projects.
-- The Qualified Small Business Stock gain exclusion. Qualified Small Business Stock acquired after Dec. 31 will qualify for a 50-percent gain exclusion, not the 100-percent exclusion currently allowed.
-- Beginning in 2014, taxpayers can no longer deduct up to $250,000 of qualified leasehold, restaurant and retail property improvements.
To view the entire list you can download the PDF
