Tax deductable items for residency

[CYRAX]

hey guys,
I was wondering if its possible to deduct the price of a personal computer I buy now, before residency starts in July, for next year's taxes? I am not even sure if it is even deducable? Also I don't know if I am gona get laptop or desktop. Also what other items are deductable if any? Thanks in advance guys for any help!
CYRAX

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[southerndoc]

It's not really a tax deductible item. If you have a really good CPA and get really creative, you *might* can claim it as an expense if you use it extensively for research (like entering data). I think this is stretching it quite a bit and might be a flag to get you audited.

 

[GoPistons]

do yourself a favor and go to irs.gov and glance over publication 17.

 

[SLUsagar]

CAN WE OR CAN WE NOT deduct moving costs as an expense for soon to be PGY-I's/???????????????????

 

[I-eye]

Yes you can.

http://www.irs.gov/taxtopics/tc455.html

 

[PTP]

Keep in mind that if your residency program offers a moving allowance (as many do) you cant deduct it.

 

[SLUsagar]

Keep in mind that if your residency program offers a moving allowance (as many do) you cant deduct it.

what if your moving costs are MORE than what your employer offer in allowance...can you deduct the difference???

 

[Doczilla]

what if your moving costs are MORE than what your employer offer in allowance...can you deduct the difference???

You can deduct whatever moving expenses are not reimbursed by your employer (as long as your new job is far enough away from your old job). If you spend more than the moving allowance, you can deduct the difference.


'zilla