Where to show 1099-Misc expenses that I paid to a company in my individual tax return.

[honeybansal3044]

As an individual, My wife paid to a company as Nonqualified deferred compensation and she issued them 1099-Misc form. Now while filing the Joint tax return where can I deduct this amount from our total income in Individual Income Tax Return 1040 Form or which tax Schedule needs to be filled out for this?

[DaveF1006]

No, currently you may not deduct job search expenses for most taxpayers for tax years beginning after December 31, 2017 through January 1, 2026. This includes training and preparation for a new job. Here is a good turbo tax source that explains this more in detail. Also this is another link  you may use as a reference.

However, you may be able to deduct this expense on a state tax return if you live in the states of Alabama, Arkansas, California, Hawaii, Minnesota, New York and Pennsylvania. To claim:

1. log into Turbo Tax
2. Go to federal>deductions and credits
3. Employment Expenses
4. Job Expenses for W-2 Income
5. As you scroll through the screens, you will reach a screen that says, Any other expenses?
6. Here in the description field, you can say job search expenses, preparation and training and the amount.

[honeybansal3044]

Thank you. 

My wife paid to the company as Nonqualified deferred compensation and she issued them 1099-Misc form. I think I categorized this as Job expense earlier but it's not.

[DaveF1006]

It depends. To clarify, does your wife own a business or were these expenses strictly for her job search and preparation? What was the nature of this 1099-MISC? If she has a business, what type of business entity is this? If she is an individual that paid this company for job search and preparation services, why did she issue a 1099-MISC?