Hello,
Thank you for using Turbo Tax!
You can claim the entire amount of the tools if they were purchased for a job you held when you purchased them.
The tools will be considered a job related expense. Job-Related Expenses Deduction is that it is very difficult to
qualify for this deduction. That's because the expense limit is so high. In
order to qualify, your job-related expenses must be more than 2% of your AGI
(adjusted gross income).
Also, job related expenses are an itemized deductions.
Taxpayers are allowed
to reduce their taxable income by either the standard deduction or itemized
deductions. The standard deduction is
determined by the IRS and is as follows:
·
Standard deduction for
single taxpayers - $6,100
·
Standard deduction for
married taxpayers filing a joint return - $12,200
·
Standard deduction for
head of household taxpayers - $8,950
(If born
before January 2, 1949, or blind, multiply the number in box c by $1,200
($1,500 if single or head of household).
Itemized deductions
are items deductions added together from your personal tax records such as
mortgage interest, charitable contribution, medical expense, etc.
Turbo Tax is
programmed to give you the higher of the two.
Turbo Tax will automatically give you the standard deduction for your
filing status. When your itemized
deduction entries become higher than the standard deduction, the program
changes to give you the itemized deductions.
I hope
this clarifies things for you. If not, please reach back out to us. Thanks, Sharon
