Form 1099-MISC reporting miscellaneous income like consulting fees.

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Under the AMT, a taxpayer must do a second calculation that doesn't allow itemized miscellaneous deductions such as lawyers' fees.

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Tax preparation fees, when taken as miscellaneous itemized deductions, are disallowed in the AMT.

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But for many individuals not regularly filing as proprietors, even business legal fees are generally treated as miscellaneous itemized deductions.

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Unreimbursed tolls and parking fees are deductible as a miscellaneous expense (by employees) or on Schedule C (by the self-employed), as long as they aren't for commuting.

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Taxpayers can use the miscellaneous allowance for expenses such as credit card payments, bank fees and charges.

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But the Internal Revenue Service, and three federal circuit courts have ruled since then that a trust's investment fees are subject to the same 2% floor for miscellaneous itemized deductions that individual tax filers are subject to.

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Then in 2001 and 2003 respectively, the Federal Circuit (in a case involving 13 trusts created for the benefit of Mellon family members) and the Fourth Circuit sided with the IRS and said that investment management fees paid by a trust are subject to the 2% floor on miscellaneous deductions, just as if the cost had been incurred by an individual.

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