But It probably isn't worth entering. You can only deduct the amount that's over 2% of your AGI.
For example, you make $20,000 AGI. Only the amount over $400 (20,000 x .02) would even be deductible. And that's only for 20,000 AGI. For like 50,000 AGI only the amount over $1,000 would be deductible.
But It probably isn't worth entering. You can only deduct the amount that's over 2% of your AGI.
For example, you make $20,000 AGI. Only the amount over $400 (20,000 x .02) would even be deductible. And that's only for 20,000 AGI. For like 50,000 AGI only the amount over $1,000 would be deductible.
You cannot deduct it anymore, unfortunately. With the new law TCJA, taxpayers are no longer allowed to take miscellaneous items deductions such as unreimbursed employee expenses, tax-preparation fees, investment fees and the cost of safe deposit boxes.
[Edited 3/30/2020 | 6:59PM]