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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1 Best answer
DDollar
Expert Alumni
Jun 1, 2019 12:16:16 AM
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.
1 Replies
DDollar
Expert Alumni
Jun 1, 2019 12:16:16 AM
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.