topic Malpractice tail in Deductions & credits

Malpractice tail

sullivam18 — Fri, 21 Jan 2022 21:37:21 GMT

Hi -

My understanding is that non-reimbursed employee expenses are no longer tax deductible as of 2020. I'm changing practices and my malpractice is of course covered by both but I'm trying to mitigate expenses for tail on a claims-made policy.

Thanks!

Re: Malpractice tail

ColeenD3 — Fri, 21 Jan 2022 21:49:32 GMT

Yes, you are correct. With the TCJA Unreimbursed Employee Expenses were eliminated.

Re: Malpractice tail

xmasbaby0 — Fri, 21 Jan 2022 21:50:48 GMT

As of the tax laws that changed for 2018 and beyond, W-2 employees cannot deduct job-related expenses on a federal tax return. Some state laws might be different.

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