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I haven't done many actors taxes since I'm based in Illinois. However, I have a client that does commercials and other music gigs in California. Her income is reported on various W-2's. She claims that some of the W-2's include a 15% agent fee that she has to venmo her agents. Her AGI is over $16,000, so according to the IRS instructions she wouldn't qualify as a performing artist. She's insistent that other actors in the industry are telling her they're deductible. However, I'm not finding anything on how she would qualify? Anyone know if there's a way these agent fees are deductible and if so where?
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If I remember correctly, they are deductible on the California return as an Itemized Deduction. But nothing for the Federal tax return.
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Ok, will look into the California deduction and how to enter it into Lacerte.
