(a) In the case of an individual, the miscellaneous itemized deductions for any taxable year shall be allowed only to the extent that the aggregate of those deductions exceeds two percent (2%) of adjusted gross income.
(b) As used in this section, "miscellaneous itemized deductions" means the itemized deductions other than:
(1) The deduction allowed under § 26-51-423(a)(1) relating to expenses in carrying on a trade or business. However, employee business expenses which are not reimbursed by the employer are miscellaneous itemized deductions;
(2) The deduction allowed under § 26-51-423(a)(2) relating to medical, dental, drug, and related health care expenses;
(3) The deduction allowed under § 26-51-415 relating to interest;
(4) The deduction allowed under § 26-51-416 relating to taxes;
(5) The deduction allowed under § 26-51-424 relating to losses;
(6) The deduction allowed under § 26-51-419 relating to charitable contributions;
(7) The deduction allowed under § 26-51-422 relating to the donation of artistic, literary, and musical creations; and
(8) The deduction allowed under § 26-51-418.
Section: Previous 26-51-427 26-51-428 26-51-429 26-51-430 26-51-431 26-51-435 26-51-436 26-51-437 26-51-439 26-51-440 26-51-442 26-51-443 26-51-444 26-51-445 26-51-446 NextLast modified: November 15, 2016