For most taxpayers, the big three deductions are related to mortgage interest, charitable contributions or medical expenses. “But too often, people listen to what other people or friends are claiming and they think they can do the same,” says Hockenberry.
Bottom line: You are not allowed deductions without substantiation. “If you don’t have proper receipts and records, you run the risk of the IRS auditing you, and then ending up with an additional tax liability,” says Hockenberry.
Always seek professional assistance when in doubt if a deduction is legitimate or if you need help determining whether you should itemize or take the standard deduction.