Questions & Answers
Which itemized deductions can be claimed in Hawaii but not on my federal return?
The following deductions can still be claimed in Hawaii:
- Tax preparation fees
- Investment expenses besides just investment interest
- Interest paid on home equity loans
- Certain home mortgage interest beyond federal limitations
- Safe deposit box rental
- Certain legal and accounting fees
- Clerical help and office rent
- Custodial (e.g. trust account) fees
- Certain losses on nonfederally insured deposits in an insolvent or bankrupt financial institution
- Casualty and theft losses of property used in performing services as an employee
- Deduction for repayment of amounts under a claim of right
- Convenience fee charged by the card processor for paying your income tax by credit or debit card
- Expenses related to tax-exempt income from a qualified high technology business are also deductible.
- Excess deductions on termination of an estate (section 67(e) expenses) do not need to be re-entered if they were included on your federal return.