Solved: No, you cannot deduct your own labor cost, ever. That is...

I don't take a check can I use my labor at say 10 dollars per hour and take that deduction for a labor cost. I am totally self employed.

posted

No, you cannot deduct your own labor cost, ever. That is not allowed per the IRS, unfortunately. And you cannot report your income "estimating" your own labor, either.

View solution in original post

No, you cannot deduct your own labor cost, ever. That is not allowed per the IRS, unfortunately. And you cannot report your income "estimating" your own labor, either.