If you receive a W-2 as a Qualified Performing Artist, Fee-Based Government Official, or National Guard/Reserve member at the end of the year, work-related expenses that are deducted from your paychecks (and are actual expenses to you and not reimbursed by your employer or advanced to you by your employer) can be deducted. All other employee expense deductions have been discontinued with the passage of tax reform.
To enter unreimbursed employee expenses in your TaxAct® return:
- From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
- Click Other Adjustments to expand the category, then click National Guard/Reserve member from Form 2106 or Qualified performing Artist or Fee-Based Government Official from Form 2106
- Click New Copy of Federal Form 2106 (Desktop users Click Add)
- The program will proceed with the interview questions for you to enter or review the appropriate information. Both the description and amount will be reflected on Schedule A.
TaxAct will use the higher of your itemized deductions or the standard deduction for your filing status in order to maximize the tax benefit to you. See Standard Deduction for more information.
If you receive a 1099-MISC as a self-employed individual at the end of the year, you would complete a Schedule C to report both your income and expenses. To enter amounts for business income or loss from a sole proprietorship:
- From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal.
- Click Business Income to expand the category, then click Business Income or Loss from a Sole Proprietorship
- Click New Copy of Federal Schedule C (Desktop users click Add) to create a new copy of the form, or click Review to review a form already created
- The program will proceed with the interview questions for you to enter or review the appropriate information.