topic Can i deduct my tools i work with and bought on my taxes in Deductions & credits

Can i deduct my tools i work with and bought on my taxes

roger198092 — Fri, 27 Mar 2020 00:12:50 GMT

Re: Can i deduct my tools i work with and bought on my taxes

CatinaT1 — Fri, 27 Mar 2020 00:28:10 GMT

Are you self employed? If so, yes.

To deduct self employment expenses :

Sign into your TurboTax account.
Go Federal Taxes
Go to Income and Expenses .
Click Edit to the right of your Self Employment Income
Click Edit next to your line of work
Scroll down to the Expenses section and click Add Expenses for this work.
Select supplies.

Re: Can i deduct my tools i work with and bought on my taxes

xmasbaby0 — Fri, 27 Mar 2020 00:52:15 GMT

If you are a W-2 employee the answer is different. W-2 employees cannot deduct job-related expenses on a federal return since the tax law changed for 2018 returns and beyond.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-reform