Tax question...

[DiveMD]

How much money from the application/interview process can I claim on my taxes? Thanks.

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[Free Radicle]

How much money from the application/interview process can I claim on my taxes? Thanks.

When I went to H&R block with that exact question they said I could deduct all of it, including hotel, air fare, rental car, etc. The caveat being and I am not quite sure what it is called on the 1040 form, but the area where you input if you are single or married i.e if you file jointly you deduct a certain amount. For me I was married and I deducted 10k. My expenses for apps and travel was only 6k. So I took the 10k deduction instead. But if you are single, I thing the deduction is less and your expenses might exceed the amount you can deduct in which case I would deduct the higher amount. Another caveat, if you are single and in medschool, then I assume you have no job, which means you pay no taxes, which means you cannot deduct anything anyway. Hope this helped

 

[DiveMD]

When I went to H&R block with that exact question they said I could deduct all of it, including hotel, air fare, rental car, etc. The caveat being and I am not quite sure what it is called on the 1040 form, but the area where you input if you are single or married i.e if you file jointly you deduct a certain amount. For me I was married and I deducted 10k. My expenses for apps and travel was only 6k. So I took the 10k deduction instead. But if you are single, I thing the deduction is less and your expenses might exceed the amount you can deduct in which case I would deduct the higher amount. Another caveat, if you are single and in medschool, then I assume you have no job, which means you pay no taxes, which means you cannot deduct anything anyway. Hope this helped

Thanks a lot. I am a single guy but I work for the US NAVY...I CAN DEDUCT!!!

 

[Visioncam]

You might want to consult you tax advisor or tax attorney...ha ha...that's the disclaimer that is always used. If you don't have a job, you can't claim deductions. You can only claim deductions if you are changing jobs. Your tax advisor might say that ophthalmology residency qualifies but job search expenses for internship does not unless one does a research or other job after medical school and before internship.

 

[Free Radicle]

You might want to consult you tax advisor or tax attorney...ha ha...that's the disclaimer that is always used. If you don't have a job, you can't claim deductions. You can only claim deductions if you are changing jobs. Your tax advisor might say that ophthalmology residency qualifies but job search expenses for internship does not unless one does a research or other job after medical school and before internship.

I am pretty sure internship counts - I was going to deduct my ERAS expenses plus travel expenses to those interviews. H&R said it was ok, but like you say always ask your tax advisor.