Yes, you can claim the entire amount of the tools if they were purchased for a job you held when you purchased them. The tools are considered a job related expense and are subject to the 2% rule (What is the 2% rule? ).
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:
