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|Posted on October 14, 2015 at 2:05 PM|
Today we discuss expenses that relate to your employment and must be more than 2% of your Adjusted Gross Income before they can be deducted.. These are not to be confused with expenses for any Self Employment.
Unreimbursed employee expenses can be deducted on Schedule A is the are ordinary and necessary for your position. If your employer includes the amounts that they pay you in box 1 of your W2 those are NOT considered reimbursed and can therefore be deducted on your return. In some cases you may have to file Form 2106 along with your Schedule A in order to take the deduction. These include:
If Form 2106 is not needed your expenses can be written in on the dotted line. Remember to keep all receipts, milage records, and other information pertaining to your deduction. If your return is ever selected for review by the IRS you will need that information to substantiate your deduction.
Expenses that can be written in include:
Tax Preparation Fees can also be deducted in this section. This is the fee you paid to have your prior year's return prepared. Include any fees you were charged for paying via a credit card on line 23.
Line 23 of the Schedule A is Other Expenses. These can include items such as the credit card fee charge to use a credit card to pay for your tax return preparation as well as:
Line 28 of Schedule A is Other Miscellaneous Deductions. This includes: