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shelbys02
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Is there a limit for professional expenses in total

malpractice, licenses, dues, conferences and conference travel

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Is there a limit for professional expenses in total

No, there is no dollar limit, but to deduct job related expenses, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your job related fees must exceed 2% of your Adjusted Gross Income.

 For example, if you itemize your deductions and your Adjusted Gross income is $50,000, 2% would equal $1,000.

You can only deduct the dollar amount of job related expenses that exceeds $1,000.

 


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Is there a limit for professional expenses in total

No, there is no dollar limit, but to deduct job related expenses, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your job related fees must exceed 2% of your Adjusted Gross Income.

 For example, if you itemize your deductions and your Adjusted Gross income is $50,000, 2% would equal $1,000.

You can only deduct the dollar amount of job related expenses that exceeds $1,000.

 


Is there a limit for professional expenses in total

shelbys02:

Or are the expenses related to self-employment (independent contractor, sole proprietor, etc.)?.   If so, then they will be reported on Schedule C in the Business Income/Expenses section.

Is there a limit for professional expenses in total

......in which case, you will not be subject to the above limitation.
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