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ginnosanchez
New Member

Out of pocket work expense, does it include tools not paid by employer

 
1 Best answer

Accepted Solutions
jerry2000
Alumni

Out of pocket work expense, does it include tools not paid by employer

Yes, that can be included as an unreimbursed employee business expense. Will it provide any tax benefit is another question.

Unreimbursed employee business expenses are an itemized deduction subject to a 2% of AGI floor; meaning that only the amount that is more than 2% of your AGI actually is deductible. And, you get no tax benefit from itemized deductions until all of them together add up to be more than your standard deduction.

2016 Standard Deduction
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
For over 65 or blind, add $1,250 for each instance or add
$1,550 each instance if single and not a surviving spouse.

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1 Reply
jerry2000
Alumni

Out of pocket work expense, does it include tools not paid by employer

Yes, that can be included as an unreimbursed employee business expense. Will it provide any tax benefit is another question.

Unreimbursed employee business expenses are an itemized deduction subject to a 2% of AGI floor; meaning that only the amount that is more than 2% of your AGI actually is deductible. And, you get no tax benefit from itemized deductions until all of them together add up to be more than your standard deduction.

2016 Standard Deduction
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
For over 65 or blind, add $1,250 for each instance or add
$1,550 each instance if single and not a surviving spouse.
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