I'm a new attending and W2 employee at a private practice that I started with in August. I also became interested in telemedicine around October/November and have made a small amount of 1099 money through that on the side.
As it was my first six months of being an attending I did pay for a lot of unreimbursed expenses during the 2017 calendar year including state licensing fees, DEA license, and board examination fees. This ended up being a good chunk of change that my employer did not reimburse. Can I deduct these expenses on Schedule C even though those licenses were necessary for both my W2 and 1099 income? Per this blog post, it seems like that might be OK: https://www.whitecoatinvestor.com/tax-savings-for-residents/. However, I am somewhat hesitant because then my expenses would be more than my telemedicine 1099 income.
Also, any specific deductions people are using for telemedicine work? Home office, etc.?
As it was my first six months of being an attending I did pay for a lot of unreimbursed expenses during the 2017 calendar year including state licensing fees, DEA license, and board examination fees. This ended up being a good chunk of change that my employer did not reimburse. Can I deduct these expenses on Schedule C even though those licenses were necessary for both my W2 and 1099 income? Per this blog post, it seems like that might be OK: https://www.whitecoatinvestor.com/tax-savings-for-residents/. However, I am somewhat hesitant because then my expenses would be more than my telemedicine 1099 income.
Also, any specific deductions people are using for telemedicine work? Home office, etc.?
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