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Because of the Tax Cut and Jobs Act, if you are an employee of the college, the IRS no longer allows employee business expenses as a deduction. This includes a home office and the technology purchase.
So I should amend my taxes, correct? How do I do that? Just redo them? I've already received my State refund check. Won't any amendments I make affect my State return?
You will need to file a Form 1040X Amended Return to make corrections. You do not duplicate and file another 1040. How were you able to take the expense? Since it it no longer allowed federally, did you say you were in the class of persons allowed to take the deduction?
Performing-arts-related business expenses as a qualified performing artist,
Expenses for performing your job as a fee-basis state or local government official, or
Impairment-related work expenses as an individual with a disability.
Before you change your state, see if it is possibly still allowed on your state return.
Thank you for your quick reply. If I remember correctly, when itemizing my deductions I was asked to enter job related expenses not reimbursed by my employer. I've done this every year as there are a number of expenses I incur that the college doesn't reimburse so I didn't think twice about this and I keep a detailed record of those expenses. I was not asked what class I was in that allowed for job expenses.
There was a time, not so long ago, that employees could claim work related expenses.
That is no longer the case except for a very small and elite few.
TurboTax still allows the Taxpayer to enter the expenses, but the expenses usually go nowhere from there.
There are interview questions that follow in the TurboTax program to determine if the expenses are deductible.
If you entered the expenses, but they were not deductible, there is no reason to amend.
If you forgot to enter the expenses, they may not be deductible and/or they might not make a difference on your return.
Below is an IRS link that explains further.
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