Unlike in years past, taxpayers can no longer claim unreimbursed employee expenses as a miscellaneous deduction on their Schedule A unless certain qualifications are met. If you are a qualified employee or an eligible educator expenses can be deducted as an adjustment to income on Form 2106. A qualified employee is one of the following:
• Armed Forces Reservists
• Qualified performing artists
• Fee-basis state or local government officials
• Employees with impairment-related work expenses
A qualified expense is:
• Paid or billed during the tax year
• For carrying on a trade or business of being an employee, and
• Ordinary and necessary
Publication 529 gives a more in depth look at what is and isn’t deductible:
https://www.irs.gov/pub/irs-pdf/p529.pdf
Please consult your tax advisor on all the above information.
phone: 978.774.3000 fax: 978.774.8170 185 Centre St., Danvers, MA 01923
