Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

employee expenses

jbailey256
Level 1

Edward Jones prints out business expenses that were not reimbursed, but paid for by Edward Jones for the brokerage agent. In 2017, the form said to use this amount on Form 2106. Since the Tax Reform eliminated that possibility, how do I enter these business expenses. Schedule C?

0 Cheers

This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion

1 Best Answer

Accepted Solutions
mdavolio
Employee
Employee

Hi,

Edward Jones would deduct those expenses if they pay for them.

Independent contractors (in contrast to W-2 employees) who report income on Schedule C are able to deduct associated expenses that they pay on that form.

If you receive reimbursements in excess of your expenses from your employer’s nonaccountable plan, the excess reimbursements should be included in your wages (in box 1 of Form W-2) and reported on line 1 of your Form 1040.

Thank you,

Mike D'Avolio

Intuit

View solution in original post

0 Cheers
1 Comment 1
mdavolio
Employee
Employee

Hi,

Edward Jones would deduct those expenses if they pay for them.

Independent contractors (in contrast to W-2 employees) who report income on Schedule C are able to deduct associated expenses that they pay on that form.

If you receive reimbursements in excess of your expenses from your employer’s nonaccountable plan, the excess reimbursements should be included in your wages (in box 1 of Form W-2) and reported on line 1 of your Form 1040.

Thank you,

Mike D'Avolio

Intuit

0 Cheers