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Can I deduct expenses for working from home since March of 2020. Expenses for having to set up a home office?
For example, internet expenses. Expenses such as the purchase of a desk. Electricity expenses for plugging in computer systems. etc.
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posted
February 4, 2021
4:32 PM
last updated
February 04, 2021
4:32 PM
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Can I deduct expenses for working from home since March of 2020. Expenses for having to set up a home office?
Sorry---W-2 employees cannot deduct expenses for working from home. Job-related expenses were eliminated as a deduction for W-2 employees by the tax laws that changed for 2018 and beyond. Your state tax laws might be different.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
February 4, 2021
4:59 PM
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Can I deduct expenses for working from home since March of 2020. Expenses for having to set up a home office?
Yes, start up costs are deductible. You may deduct qualified start-up costs you paid or incurred while setting up your business up to $50,000. It can either be deducted in the year you open the business up to $ 5,000 and amortized the remaining for 15 years.
February 4, 2021
5:14 PM
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