I am a teacher and have incurred educators' expenses beyond the $250. I've spent $700 as a new K teacher. These expenses are "ordinary and necessary" for my job as a teacher.
Should I consider the remaining $500 as UNREIMBURSED EMPLOYEE BUSINESS EXPENSES subject to the 2% floor?
A friend told me that I can only do that:
1. if these expenses were required by the school
to purchase them but was I not reimbursed AND
2. if I provide a letter from the school that says that I was required to do so but the school was not able to reimburse me.
Is that friend correct? must I do those things?
From what I understand: An expense
is ordinary if it is common and accepted
in your trade, business, or profession. An expense is necessary if it is appropriate and helpful
to your business. An expense does not have to be required
to be considered necessary.
Based on the definition of the "ordinary and necessary" I therefore conclude that friend is wrong. AND that I can apply the $500 as an Unreimbursed itemized deduction. Am I correct? Please I need your opinion on this. I need your confirmation, other opinion or any advise.
Also another friend told me that I can only use one of the deductions either I go for the Educator Expense or the UNREIMBURSED EMPLOYEE BUSINESS EXPENSES. Can I go for both? Meaning can I apply $250 as Educator Expense for line 23, then I apply the remaining $500 to the unreimbursed employee business expenses.
Thank you for your time, hopefully you can drop a line or two. I am so confused