Started By
Message

re: Tax Advice - Laptop purchase deduction?

Posted on 11/25/12 at 6:15 pm to
Posted by ashy larry
Marcy Projects
Member since Mar 2010
5569 posts
Posted on 11/25/12 at 6:15 pm to
I believe this is correct. Your un reimbursed expenses have to equal at least 2% of your AGI
Posted by BFIV
Virginia
Member since Apr 2012
7798 posts
Posted on 11/25/12 at 7:49 pm to
quote:

Your un reimbursed expenses have to equal at least 2% of your AGI


Your employee business expenses have to EXCEED 2% of your AGI because they are included in the 2% miscellaneous deductions category on the Schedule A. Even then, only these business expenses that are in excess of 2% of your AGI are deductible. But they are not deductible unless all of your Schedule A deductions exceed your standard deduction for your particular filing status. Your employee business deductions by themselves may be enough to exceed your standard deduction and enable you to itemize. For most taxpayers this is hardly ever the case, though. They need the other deductions to itemize: medical expenses, home mortgage interest, sales tax or state income tax, charitable contributions, etc.
first pageprev pagePage 1 of 1Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram