Question:
Are the expenses incurred during a job search after an
involuntary termination ('got fired') deductible?
*Resume service
*Mileage to interviews
*parking
Any of this?
Lost my job in September, used a resume/career service, put
on some miles and had to park in downtown ramps/lots. How
much of this is deductible?
Answer:
-All job seeking expenses in your current occupation are
deductible as Sch A deductions, subject to 2% of your AGI.
-All, assuming you itemize, less the 2% AGI offset.
Presuming you are searching for a job in the same field.
If you are searching for a job in a different field or after
a long absence from the workforce , the answer may differ.
-Yes, job search expenses IN THE SAME FIELD as you were
last employed (or self-employed) are deductible as a
miscellaneous itemized deduction subject to the 2% AGI
floor.
