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Most likely, you don't want to try and relate these expenses to W2 income. Because you don't qualify for the special artist rules (I've never seen anyone qualify for that, for what its worth), employee business expenses go on Schedule A for itemized deductions. Firstly, you need to itemize (mortgage interest, state taxes, property taxes, charity). Unless your income is high, an individual in NYC is unlikely to itemize their personal deductions on Schedule A. If you do itemize, employee expenses apply a 2% "floor". So, if 2% of your AGI is $1000 and your expenses are $1500, you have a $500 write off.
A business expense is better.However, the expenses need to relate to that business income- the $750. You don't need a 1099-MISC to have business income, but you do need the expenses to have a direct relationship to this non-W2 income. If your non-W2 income is $750 and the bulk of your income is W2, it would be "aggressive" to state that your expenses are 100% attributable to that $750 in income.
Keep in mind that itemized deductions don't quite relate to your business/ acting expenses that you are tracking. It relates to a specific form on your 1040. If you don't own your home, its not likely you are itemizing on Schedule A. So, the expenses most likely have to be equated to your freelance work to make any difference on your tax return.
The standard deduction for single taxpayers is $6300 in 2016.
Most likely, you don't want to try and relate these expenses to W2 income. Because you don't qualify for the special artist rules (I've never seen anyone qualify for that, for what its worth), employee business expenses go on Schedule A for itemized deductions. Firstly, you need to itemize (mortgage interest, state taxes, property taxes, charity). Unless your income is high, an individual in NYC is unlikely to itemize their personal deductions on Schedule A. If you do itemize, employee expenses apply a 2% "floor". So, if 2% of your AGI is $1000 and your expenses are $1500, you have a $500 write off.
A business expense is better.However, the expenses need to relate to that business income- the $750. You don't need a 1099-MISC to have business income, but you do need the expenses to have a direct relationship to this non-W2 income. If your non-W2 income is $750 and the bulk of your income is W2, it would be "aggressive" to state that your expenses are 100% attributable to that $750 in income.
Keep in mind that itemized deductions don't quite relate to your business/ acting expenses that you are tracking. It relates to a specific form on your 1040. If you don't own your home, its not likely you are itemizing on Schedule A. So, the expenses most likely have to be equated to your freelance work to make any difference on your tax return.
The standard deduction for single taxpayers is $6300 in 2016.
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