The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/deduct-job-hunting-exps-on-sch-c-14775052.aspx

Subject:  Deduct Job Hunting Exps on Sch C? Date:  4/16/2001  11:42 AM
Author:  retailguy Number:  50338 of 121482

I received some 1099-misc consulting income last year (so I'm dealing with Sch C for the first time) as well as W-2 income. Before I landed my consulting gig, I racked up a lot of expenses on interviews and marketing around the world (so my travel expenses are a good percentage of my 1099 income). Are these job-hunting-related expenses deductible as travel expenses on my Schedule C?

Does it matter that I landed a temporary, full-time salaried (W-2) position (for five months) before I found my consulting position? Since I was not working when I started my job search, I am not sure if I can itemized those beginning of year job hunting expenses, so it would help a lot if I could deduct them on my Sch C.

Also, in general, can I use the federal and State Dept per-diem rates to expense my meals, entertainment, and incidentals during these trips (or do I need actual receipts) on my Sch C? Thanks.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us