Unreimbursed Job Expenses

If you have out-of-pocket job expenses, you can do so on your tax return. This will be located on Form 2106. However, prior to tax year 2018, taxpayers can deduct unreimbursed expenses that exceed 2% of their adjusted gross income. This is located on Schedule A for your itemized deductions.

Due to the Tax Cuts and Jobs Act, from tax years 2018 – 2025, there are limitations on this deduction. Only the following employees can deduct unreimbursed job expenses:

• Armed Forces reservists
• Fee-basis state or local government officials
• Qualified performing artists
• Employees with impairment-related work expenses
• Teachers

Keep in mind, these unreimbursed expenses only apply to those who are filing a W-2 statement. If you are self-employed and you have a Schedule C, you can still report your business expenses as usual.

This entry was posted on Monday, November 16th, 2020 at 1:57 pm and is filed under Deductions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.