Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
vhinojosa9
New Member

Can i deduct a storage fee if i used my detached garage for storage of all the tools used for my trade.

 
2 Replies
HelenC12
Employee Tax Expert

Can i deduct a storage fee if i used my detached garage for storage of all the tools used for my trade.

Yes, if you are self-employed (not a W-2 employee).  If you’re self-employed or own a business, enter your business-related expenses on Schedule C instead.

 

No, if you're a W-2 employee. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the unreimbursed employee expenses deduction has been suspended in tax years 2018 through 2025.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
dmertz
Level 15

Can i deduct a storage fee if i used my detached garage for storage of all the tools used for my trade.

If it's your own garage, to whom did you pay the storage fee?  You can't deduct a fee that you pay yourself, otherwise you would also need to include the fee as income and the income would cancel out the benefit of the deduction.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v