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Submitted By: someone
Answered: January 16, 2019 8:53 pm
Answered: January 16, 2019 8:53 pm
As a police officer, can I deduct the cost of uniforms and weapons maintenance?
Unreimbursed employee business expenses used to be a miscellaneous itemized deduction subject to the 2% of adjusted gross income floor. However, this deduction has been suspended for 2018 through 2025, so no deduction is currently allowable.
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Tax Glossary
Nonrecourse financing
Debt on which a person is not personally liable. In case of nonpayment, the creditor must foreclose on property securing the debt. At-risk rules generally bar losses where there is nonrecourse financing, but an exception applies to certain nonrecourse financing for real estate.
