Those receiving Social Security frequently don't take the Medicare Part B deductions they're entitled to, Newman says. "If you're a retiree or disabled, depending on your income, money is withheld from your Social Security check and that's considered health insurance premiums, which are deductible," he says.
 
If you're the parent of a child with special needs and he or she must attend a specialized school, you may be able to deduct enrollment expenses, says Albert.
 
Child and dependent care credit. Although this isn't technically a deduction, it's a valuable tax credit that's frequently overlooked. If you have a dependent child (or children) younger than 13, you may be eligible for a credit for the costs of a childcare provider and certain childcare programs. Eligible childcare programs include before- and after-school care and day camps, but not overnight camps. For married couples to qualify, both spouses must work, or the non-working spouse must be a student or disabled. Parents with one child are eligible for a credit based on the first $3,000 of childcare expenses, and parents with two or more children can get a credit of up to $6,000.
 
Similarly, if you have a dependent parent who lives with you and can't physically take care of him or herself, you can receive a credit for the costs of caring for your parent. Such costs may include adult day care and in-home care.
 
Contributions to charity. Check and cash contributions to charities are generally fully deductible up to 50 percent of your adjusted gross income. Labant says people are fairly good about keeping track of those donations, but many don't deduct for costs incurred while doing work for a charity.
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