If my employer requires that I own a laptop and other computer equipment, but does not provide them, am I able to deduct the expense of purchasing the equipment? I know that I definitely would deduct these expenses if I was self-employed.
1 Answer
It looks like you can. Take a look at these articles:
http://www.googobits.com/articles/1747-taking-an-itemized-deduction-for-job-expenses.html http://www.bankrate.com/finance/money-guides/business-expenses-that-benefit-you.aspx http://www.hrblock.com/taxes/tax_tips/tax_planning/employment.html
But of course, go to the source:
http://www.irs.gov/publications/p529/ar02.html#en_US_publink100026912
From publication 529:
You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040 or Form 1040NR). You can claim the amount of expenses that is more than 2% of your adjusted gross income. You figure your deduction on Schedule A by subtracting 2% of your adjusted gross income from the total amount of these expenses. Your adjusted gross income is the amount on Form 1040, line 38, or Form 1040NR, line 36.
I hope that helps. Happy deducting!