Dozens of tax provisions expire at the end of 2013

12-09-2013Tax Information

The following individual income tax deductions, credit and exclusions will expire at the end of this month:

• The non-business energy property credit
• The credit for health insurance costs of eligible individuals
• The deduction for certain elementary and secondary school teacher expenses
• Premiums for mortgage insurance deductible as qualified residence interest
• Deduction for state and local general sales taxes
• The special rules for contributions of capital gain real property made for conservation purposes
• The above-the-line deduction for qualified tuition and related expenses
• The exclusion for discharge-of-indebtedness income on principal residence
• Parity between the exclusion from income for employer-provided mass transit and parking benefits
• Tax-free distributions from IRAs for charitable purposes