I’ve already been licensed for several years and held a DEA license for several years. Last year I renewed two state licenses. As these are not initial license, then they should be tax deductible, correct? And the DEA fee will be tax deductible when I file my 2017 taxes?
And my understanding is that I have to itemize these expenses, and if the total amounts to less than the standard deduction, then I should just take the standard deduction, correct? In other words, it’s not an above the line deduction?
They sound like qualifying job expenses to me (not knowing your full situation).
If you are a W2 employee, then these are employee business expenses, lumped in with other "Job Expenses and Certain Miscellaneous Deductions" on Schedule A, subject to the 2% limitation (can only deduct the amount that exceeds 2% of your AGI) before you determine if you have enough itemized deductions to file schedule A.
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