This document discusses 5 overlooked tax benefits: 1. Students can deduct interest paid on their student loans even if their parents made the payments. 2. Taxpayers can elect to deduct state and local sales taxes instead of income taxes, which may provide a bigger deduction. 3. Job seekers can deduct expenses like agency fees and travel costs related to searching for employment within their field. 4. Homeowners can deduct part of their home office expenses if they use it for their business. 5. Individuals can give up to $14,000 per person each year gift tax-free, or $28,000 if combining gifts with a spouse.