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If my unreimbursed employee expenses in the transportation industry exceed 2% of my AGI, why does my tax liability/refund not change?
Does the version of Turbotax I am using, affect the outcome?
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If my unreimbursed employee expenses in the transportation industry exceed 2% of my AGI, why does my tax liability/refund not change?
TurboTax starts with giving customers the standard deduction, and until the customer's total itemized deductions exceed the standard deduction, your refund or liability will not change.
The deduction for job-related expenses is one of the itemized deductions. So even though you meet the 2% adjusted gross income threshold for this deduction, until that deduction plus your other deductions exceeds your standard deduction, your refund or liability stays the same.
Please read on for more information.