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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?

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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

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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

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