January 30, 2018, 07:17 PM
Lord VaalicTax question
Wife has started working from home, so can I write off our internet costs?
January 30, 2018, 07:20 PM
a1abdjWorking for a third party or self employed?
January 30, 2018, 11:48 PM
Sailor1911In either situation, a deduction can be taken. if self employed, it would be a deduction on the Schedule C. If an employee, a deduction as an employee business expense on 2106 flowing to Schedule A (itemized deductions) and subject to the 2 percent of AGI threshold.
In either case, you will need to establish the business percentage of the total that applies. If her income is dependent on internet access, I would lean toward 100 percent of the expense as "ordinary and necessary" to earn the income.
January 31, 2018, 12:40 PM
SRquote:
Originally posted by Sailor1911:
In either situation, a deduction can be taken. if self employed, it would be a deduction on the Schedule C. If an employee, a deduction as an employee business expense on 2106 flowing to Schedule A (itemized deductions) and subject to the 2 percent of AGI threshold.
In either case, you will need to establish the business percentage of the total that applies. If her income is dependent on internet access, I would lean toward 100 percent of the expense as "ordinary and necessary" to earn the income.
This was changed as part of the most recent tax bill. Oddly, the deduction previously available to an employee is suspended for tax years beginning after 12/31/2017 and before 1/1/2026. So, for 2018 and the foreseeable future, must be a trade or business reported on Schedule C to claim a deduction.
January 31, 2018, 12:49 PM
Skull LeaderJust to clarify SR's statement, it still applies to your 2017 taxes.
January 31, 2018, 04:20 PM
Sailor1911quote:
Originally posted by Skull Leader:
Just to clarify SR's statement, it still applies to your 2017 taxes.
Correct. I almost went back and added that - EE business expense is history for '18-25 and may be moot anyway with the higher STD Deduction.