Taxes: last PGY year

[elzocalo]

hello all, any insight would be appreciated.

I'm in my final year of residency. Summer of 2016 spent money on first attending job search. Now filing 2016 taxes in 2017. Are those expenses deductible?

I had read somewhere that residency interview expenses cant be deducted since they were our first medical job. But first attending job search expenses could be deducted? Even if so, is it worth it to deduct if expenses were around $1500 with 60k salary? Im not sure if itemizing becomes a big headache or not if job search is the only extra you want deducted.

Also, after doing Some reading I've concluded:

Last pgy year: specialty board fees, medical license fees for state youre going to work in as an attending can not be deducted. Sound right?

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[sazerac]

You can deduct job search (travel / interviewing / hotel / etc) expenses if it is from one job to another in the same field. If you were already being paid to be a doctor and searching for another job to be a doctor, then it is deductible.

As to whether it is worth it or not, Turbo Tax will just ask you what your job search expenses were, and then if it is worth it to itemize Turbo Tax will itemize for you. If not, it will take the standard deduction. Either way, you win.

 

[cpants]

You can deduct travel expenses, mileage, and licensure/exam fees as long as you have documentation (receipts, invoices, mileage logs, etc.) AND these expenses were not reimbursed by an employer.

 

[deleted126335]

If you have got the cash, contributing to a Roth IRA is probably a good idea