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Where do you enter tools purchased for a w-2 job? It keeps taking me to adding them as an asset, but not an option for expensing them

 
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HelenaC
New Member

Where do you enter tools purchased for a w-2 job? It keeps taking me to adding them as an asset, but not an option for expensing them

Enter your tools as an asset and on the following screens you will have an option to deduct the full value of the item this year.  See the screenshot below.

Please see the following:

Where do I enter job-related employee expenses? (Form 2106)  

Note: Your refund may not be affected by the tools expense if your standard deduction is greater than your itemized deductions. 

  • The standard tax deduction is a flat amount that the tax system lets you deduct, no questions asked. 
  • For 2016, see the screenshot below of the IRS 2016 Standard Deduction Tables to find your standard deduction.
  • After adding up your itemized deductions, you need to make sure the total is greater than the standard deduction for your filing status. If it’s not, then you will actually pay more in tax if you itemize.

Additional information:

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