We will automatically calculate your allowable itemized deductions for you. These include:
Mortgage interest used to buy, build or improve your home;
Medical and dental expenses in excess of 10% of your adjusted gross income
Charitable contributions
Casualty and theft losses
Miscellaneous deductions not subject to the 2% floor.
If your itemized deductions were limited for regular tax purposes because of your income, we will recalculate your deductions allowed for AMT purposes without the income limitations.