How do I file for a tax exemption for Electronic residency application service (ERAS) related expenses this year that exceed $10k?
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I am going to assume that you are doing a business return and use the ERAS system. I will assume it is sch C based on the forum. Schedule C (Form 1040), Profit or Loss From Business. Not being you, I am guessing that this is part of your operating needs. If the service was for the tax year, it can go on line 22 which states:
You can also deduct the cost of books, professional instruments, equipment, etc., if you normally use them within a year. However, if their usefulness extends substantially beyond a year, you must generally recover their costs through depreciation.
If this does not answer your question, please reply with more information.
Thank you. I'm asking as an applicant for ERAS and medical doctor from overseas, applying here as an MD to get a residency/training as a doctor.
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