I work at a collision repair shop and had to buy a lot of tools is it possible to write them off. if so how do ago about it?

mr-issac1 — Sat, 01 Jun 2019 06:39:09 GMT

If you are an employee and have to buy these tools for yo...

MinhT — Sat, 01 Jun 2019 06:39:11 GMT

If you are an employee and have to buy these tools for your work and you are not reimbursed by your employer, you can claim these tools as Job-related expenses in Schedule A - Itemized Deductions.

Job-related expenses are subject to the 2% rule and you can only claim the excess over 2% of your adjusted gross income.

Please note that Itemized Deductions will only "help" when they total more than your standard deduction.

For 2016, standard deductions are:

For a taxpayer under 65, not claimed as a dependent:

$6,300 for Single
$12,600 for Married Filing Jointly, or Qualifying Widow(er) with dependent child
$9,300 for Head of Household
$6,300 for Married Filing Separately
If you are over 65 or blind, add $1,250 for each instance or add $1,550 each instance if single and not a surviving spouse

You can deduct your job-related expenses by following these steps:

In TurboTax, open your tax return
Click on Federal Taxes, then on Deductions & Credits
Under All Tax breaks, locate the section Employment Expenses and click on Show more
Click Start next to Job expenses for W-2 Income.

topic I work at a collision repair shop and had to buy a lot of tools is it possible to write them off. if so how do ago about it? in Deductions & credits

I work at a collision repair shop and had to buy a lot of tools is it possible to write them off. if so how do ago about it?

If you are an employee and have to buy these tools for yo...