IRS PUBLICATION 529 - MISCELLANEOUS DEDUCTIONS
A document that explains the expenses that can be claimed as miscellaneous itemized deductions on Schedule A of Form 1040 or Form 1040NR. To compute, subtract the total of most miscellaneous itemized deductions by 2% of the adjusted gross income. However, there are some deductions that are not subject to the 2% limit and expenses that cannot be deducted. It also provides information on how to report these deductions. Expenses can be claimed if considered ordinary and necessary in a specific line of business.
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10:00 | GDP | 3 quarter | |
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