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Itemized Deductions Schedule-A


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Old 02-05-2009, 03:02 PM
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Post where would this amount go on the 1040A form

My boyfriend works as mechanic and he's bought over 5K worth of tools this year. Can he claim this without itemizing and if so, where would this amount go on the 1040A form.
Thanks for any help you can give me.



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Old 02-09-2009, 09:41 PM
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Unfortunately, your Boyfriend would have to itemize in order to claim this deduction for tools. These expenses can be deducted as part of the employee business expenses that are reported on Form 2106 on line 4.

These expenses are then carried over to Schedule A Line 26 and are subjected to the 2% Adjusted Gross Income Limitation. Thus, if your Boyfriend's W-2 income is say $50,000, the small tool expense of $5,000 must be reduced by 2% of $50,000 or $1,000. Thus, only $4,000 ($5,000 less $1,000 )can be deducted on Schedule A.

Also, remember that State and Local income taxes are deductable on Schedule A along with any Charitable Contributions made in 2008. These amounts might possibly be more than $5,450 which is the amount of the current Standard Deduction (the alternative to itemizing) for tax year 2008!

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