TurboTax question
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@LuFins-Dad said in TurboTax question:
While we’re on the subject… One of the companies Karla subs too made them actual employees this year, but didn’t reimburse for things like mileage and other strictly job related expenses that comes with the job. How do you claim the mileage when you aren’t self employed for that portion?
Don't think you can. For W-2 work, you can't deduct mileage expenses, etc.
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@89th said in TurboTax question:
@LuFins-Dad said in TurboTax question:
While we’re on the subject… One of the companies Karla subs too made them actual employees this year, but didn’t reimburse for things like mileage and other strictly job related expenses that comes with the job. How do you claim the mileage when you aren’t self employed for that portion?
Don't think you can. For W-2 work, you can't deduct mileage expenses, etc.
I'm not sure about that...
Correction...The law changed in 2020.
Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
@George-K said in TurboTax question:
Turbotax was great at parsing my other 1099s but I wonder if it'll be able to do a 40-page form like this.
I put my 1099s from Charles Schwab directly into Turbo Tax, no paper involved. I have been using it for a number of years, I don't remember exactly what I did to set it up. Now it remembers what I did last year and asks if I want to do it again. Then TT has me log-in to Schwab and it downloads everything.
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@Jolly said in TurboTax question:
@89th said in TurboTax question:
@LuFins-Dad said in TurboTax question:
While we’re on the subject… One of the companies Karla subs too made them actual employees this year, but didn’t reimburse for things like mileage and other strictly job related expenses that comes with the job. How do you claim the mileage when you aren’t self employed for that portion?
Don't think you can. For W-2 work, you can't deduct mileage expenses, etc.
I'm not sure about that...
Correction...The law changed in 2020.
Wouldn’t it be an unreimbursed business expense?
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What’s the definition of a qualified employee?
This is going to suck, because fully 1/3 of her business deductions are no longer allowed. Her home office expenses, computer, business phone, etc…
And do you have any idea how difficult tracking her mileage becomes now? This is a nightmare.
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Geez, this is confusing...some clarity?
Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
I’m going to have to take this to the TurboTax help line.
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@Jolly said in TurboTax question:
Geez, this is confusing...some clarity?
This is a bit clearer:
https://www.irs.gov/newsroom/heres-who-qualifies-for-the-employee-business-expense-deduction
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@LuFins-Dad said in TurboTax question:
What’s the definition of a qualified employee?
This is going to suck, because fully 1/3 of her business deductions are no longer allowed. Her home office expenses, computer, business phone, etc…
And do you have any idea how difficult tracking her mileage becomes now? This is a nightmare.
Could always just divide it by 2/3 and clarify if an auditor ever asks that 1/3 of her work is as a W-2 employee. The company should be reimbursing her, btw. Not legally, but morally/policy/etc.
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@89th said in TurboTax question:
@George-K said in TurboTax question:
@jon-nyc said in TurboTax question:
I get a consolidated 1099 and put it in TurboTax just fine.
Just drop the 40 page PDF into their window?
I think they also offer the option of entering the brokerage's (you wife's) log-in credentials into the system and they'll automatically pull it for you.
This
