Obsessive-compulsive disorder is an anxiety disorder characterized by unwanted thoughts and repetitive, ritualized behaviors you feel compelled to perform. If you have OCD, you probably recognize that your obsessions and compulsions are irrationalâbut even so, you feel unable to resist them and break free.
Itemized deductions allow taxpayers to reduce their taxable income based on specific personal expenses. If the total itemized deductions are greater than the standard deduction, it will result in a lower taxable. income and lower tax. In general, taxpayers benefit from itemizing deductions if they have mortgage inter-.
Here's a list of some of the most popular itemized deductions. 1  IRA Contribution Deduction - You can deduct a limited contribution to your qualifying Individual Retirement Account every year. The deduction limits for 2012 are $5,000 per year for individuals under 50, and $6,000 per year for individuals 50 or over.