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

 
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2 Replies
CatinaT1
Employee Tax Expert

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

Are you self employed?  If so, yes.

 

To deduct self employment expenses :

  1. Sign into your TurboTax account.
  2. Go Federal Taxes
  3. Go to Income and Expenses .
  4. Click Edit to the right of your Self Employment Income 
  5. Click Edit next to your line of work
  6. Scroll down to the Expenses section and click Add Expenses for this work.
  7. Select supplies.
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Can i deduct my tools i work with and bought on my taxes

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-re...

**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.**

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