chapter 9 handout

chapter 9 handout -...

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Chapter 9 Deductible expenses as an employee or self-employed individual.  Generally, deductions for: An  employee  are deductions  from AGI (itemized ) self-employed individual  are deductions  for AGI . Transportation:  Deductible expenses incurred for travel (literally, the transportation) while away from home.  Mileage rate is $0.50/mile.  Commuting from home to work is generally not deductible, except:  a. if additional costs are incurred to transport large and/or multiple items to the workplace  (e.g. renting a UHaul) b. if an individual has two jobs, commuting between the jobs is deductible;  c. if an individual is required to commute between multiple locations of a single job, the  commuting between locations is deductible; d. if an individual is required to commute between home and a temporary workplace, the  commuting is deductible Where on the tax return:  Employee: unreimbursed expenses are deductions as miscellaneous itemized from AGI  subject to 2% AGI limitation Self-employed: for AGI (e.g. on Schedule C) Travel Expenses: combined business/personal Deductions are permitted only if the reason for travel was primarily business. For purposes of  determining business versus personal days, travel days are considered business days and  weekends/holidays are considered business days if between business days. 
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This note was uploaded on 12/22/2010 for the course BUSACC 1242 taught by Professor Staff during the Spring '10 term at Pittsburgh.

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chapter 9 handout -...

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