Personal Finance & Money Asked by Julie S on June 30, 2021
I met with them today and was told I’m being given a 1099 form.
I got a Work-From-Home job doing programming for a science based non-profit. There’s been no talk of providing me with a company laptop or anything of the sort, and I start the job on Monday.
I was thinking of buying a laptop to use just for this job because my current laptop is in use for college courses, and having to watch/download video lectures and other materials is making my current machine run slowly. Was curious if buying a laptop to use, just for this job, could be used as a tax deduction in the US. Not planning to spend more than $450 USD.
In short yes,
Assume you're a US person living and 1099 working in the US.
You buy a laptop (100 to a few thousand bucks)
Next year, when you use taxAct or whatever to fill in your tax return as a self-employed person there is (essentially) a slot where you say "I paid $400 for a laptop" and that is a deduction.
In short, there used to be some annoying crap where you had to (in short) deduct it over some years but (in short) for the coming tax return in 2021, you get to deduct the whole amount and you're done.
There's been no talk of providing me w/a company laptop
Email them with this language: "Howdy, how will you be supplying me a laptop to use for the project?"
See what they say.
In short, to repeat:
Was curious if buying a laptop to use, just for this job, could be used as a tax deduction in the US.
Yes. If you are self employed (1099).
Answered by Fattie on June 30, 2021
If you are working as an independent contractor then this is an expense you can record on Schedule C offsetting your self employment income.
If you are working as an employee, this kind of expense used to be available as a "miscellaneous expense subject to the 2% floor" (which meant first, you elect to do itemized expenses instead of taking the standard deduction, and second, the total of the miscellaneous expenses would have to exceed 2% of your gross income before being deducted, so there are circumstances where it could reduce your taxes, but there's a lot upstream conditions working against it). However this category is restricted after 2019 to 4 specific employee types
Publication 529 - Main Contents
Deductions for Unreimbursed Employee Expenses
You can no longer claim any miscellaneous itemized deductions that are subject to the 2% of adjusted gross income limitation, including unreimbursed employee expenses. However, you may be able to deduct certain unreimbursed employee business expenses if you fall into one of the following categories of employment listed under Unreimbursed Employee Expenses next, or are an eligible educator as defined under Educator Expenses , later.
- Armed Forces reservists.
- Qualified performing artists.
- Fee-basis state or local government officials.
- Employees with impairment-related work expenses.
Answered by user662852 on June 30, 2021
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