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mr-issac1
New Member

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?

 
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MinhT
Expert Alumni

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 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.

 


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