2007-11-14 02:39:01 · 4 answers · asked by trixibel 6 in Business & Finance ➔ Taxes ➔ United States
It is deductible only if you itemize your deductions and only to the extent that it exceeds 7.5% of your adjusted gross income. For example, let's say that your adjusted gross income is $30,000. 7.5% is $2,250 so you can deduct only $750 ($3,000 in expenses less the $2,250 that is not deductible).
2007-11-14 02:57:05 · answer #1 · answered by The Shadow 6 · 3⤊ 0⤋
Not unless you itemize - and unless you have a significant amount of other allowable itemized deductions, probably not. If you itemize, you can't deduct the whole $3000, you'd have to subtract 7.5% of your income and could only deduct the amount that's over that.
2007-11-14 15:18:18 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
yes. keep receipts. check the irs website for all deductions.
2007-11-14 02:47:18 · answer #3 · answered by Kat S 2 · 0⤊ 0⤋
Possibly. It depends on what percentage of your income that is.
2007-11-14 02:54:19 · answer #4 · answered by Curious 3 · 0⤊ 0⤋