Question

Can we deduct the cost of a trailer purchased for 100% work related purposes?

Forum|Forum|7 years ago
June 1, 2019
1 reply
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My husband is a Project Manager for a company. He is required to provide his own tools. He purchased a cargo trailer to haul his tools from job site to job site. Can he deduct this expense as business related, even though he doesn't own the business he works for?

TurboTax Deluxe Online

C

CherylW

Employee

If you got a W-2, the cost of the trailer and any related depreciation plus any other expenses go on Schedule A, subject to the 2% limitation.

To enter that in Turbo Tax, go to Job-related Expenses under Deductions & Credits.

On the Did you buy or own any items for use in your job screen, he can set up the trailer for depreciation. Depending on the cost, he may elect to take some or all of the cost off in this year.

Turbo Tax will ask you questions about that.