Timeline for Can I deduct the cost of licenses for tools/utilities and services come tax time?
Current License: CC BY-SA 3.0
6 events
| when toggle format | what | by | license | comment | |
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| Nov 5, 2015 at 20:37 | vote | accept | Pete | ||
| Nov 27, 2012 at 2:47 | comment | added | Pete | @DilipSarwate Thanks for clearing that up! Adjusted Gross Income could make a big difference for many. | |
| Nov 27, 2012 at 2:43 | comment | added | Dilip Sarwate | @Pete Close but not quite right. As JohnFx said, the threshold is 2% of the Adjusted Gross Income (AGI) which might not be the same as your salary or the taxable part of your wages (think reductions due to pretax contributions to 401k plans and IRAs, medical insurance premiums, FSAs, etc and increases due to unearned income such as dividends and capital gains). | |
| Nov 27, 2012 at 2:33 | comment | added | Pete | Thanks! So on a $100,000 salary, if I spent $2,100 on said tools, licenses and services, I would only be able to claim the $100? | |
| Nov 27, 2012 at 1:33 | history | edited | JohnFx♦ | CC BY-SA 3.0 |
added 1043 characters in body
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| Nov 27, 2012 at 1:24 | history | answered | JohnFx♦ | CC BY-SA 3.0 |