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herrera52816
New Member

Matthew made a charge for $1,453.15 on tools for work, and we've paid $600.00 of it which amount should we deduct

 
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DDollar
Level 1

Matthew made a charge for $1,453.15 on tools for work, and we've paid $600.00 of it which amount should we deduct

If the tools were purchased in 2016 you can deduct the entire amount on your 2016 tax return, even if you charged them and haven't paid the entire charge yet.

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DDollar
Level 1

Matthew made a charge for $1,453.15 on tools for work, and we've paid $600.00 of it which amount should we deduct

If the tools were purchased in 2016 you can deduct the entire amount on your 2016 tax return, even if you charged them and haven't paid the entire charge yet.

View solution in original post

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