Charishma, a CPA, paid the following expenses in pursuing her profession in 2018: - Professional society dues - $450
- Tax and accounting journals - $250
How much of these expenses can be deducted if she is an employee of an accounting firm, and how much is ded she is a self- employed CPA? Ignore any potential limitations based on AGI.

Question

Quizplus · Accepted Answer

As an employee, unreimbursed job expenses are not deductible due to the suspension of miscellaneous itemized deductions. As a self-employed individual, these expenses are fully deductible as business expenses.

Charishma, a CPA, Paid the Following Expenses in Pursuing Her