1040 Schedule A Miscellaneous Deductions Eliminated for 2018

Posted On: January 23, 2018  0 Comments
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In the recently passed Tax Cut and Jobs Act of 2017, all 1040 Schedule A miscellaneous itemized deductions that are subject to the 2% floor have been suspended through 2025. These include:

Employee business expenses, such as

  • Business bad debt of an employee
  • Business liability insurance premiums
  • Casualty and theft losses from property used in performing services for an employer
  • Damages paid to a former employer for breach of an employment contract
  • Depreciation on a computer a taxpayer’s employer requires him to use in his work
  • Dues to a chamber of commerce if membership helps the taxpayer perform his job
  • Dues to professional societies
  • Educator expenses
  • Home office or part of a taxpayer’s home used regularly and exclusively in the taxpayer’s work
  • Job search expenses in the taxpayer’s present occupation
  • Laboratory breakage fees
  • Licenses and regulatory fees
  • Malpractice insurance premiums
  • Medical examinations required by an employer
  • Occupational taxes
  • Passport fees for a business trip
  • Repayment of an income aid payment received under an employer’s plan
  • Research expenses of a college professor
  • Rural mail carriers’ vehicle expenses
  • Subscriptions to professional journals and trade magazines related to the taxpayer’s work
  • Tools and supplies used in the taxpayer’s work
  • Purchase of travel, transportation, meals, entertainment, gifts, and local lodging related to the taxpayer’s work
  • Union dues and expenses
  • Work clothes and uniforms if required and not suitable for everyday use
  • Work related education

Other miscellaneous itemized deductions subject to the 2% floor

  • Repayments of income received under a claim of right (only subject to the 2% floor if less than $3000)
  • Repayments of Social Security benefits
  • The share of deductible investment expenses from pass-through entities
  • The deduction for expenses in connection with the determination, collection, or refund of any tax
  • The deduction for expenses for the production or collection of income
  • The deduction for expenses for the management, conservation, or maintenance of property held for the production of income

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