Question

I have two entries on Schedule A and the dollar amounts are correct. Can I continue on to filing without changing something?

Forum|Forum|5 years ago
July 6, 2020
1 reply
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It asks for another 2% expense to be entered. I don't know what that means.

TurboTax Premier Online

A 2% expense is typically an unreimbursed employee business expense. Such expenses have to exceed 2% of your Adjusted Gross Income (AGI) to be deducted on Schedule A (and, of course, your total Itemized Deductions need to be larger than your Standard Deduction to even use Schedule A).

Please note that the Tax Cut and Jobs Act of 2017 eliminated the deduction for nearly all unreimbursed employee business expenses, so unless your state still allows them (some do), there is no point in continuing to enter them.

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