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If I have been out of work this year, but received a lump

Customer Question
sum payout as income, what...
If I have been out of work this year, but received a lump sum payout as income, what can I deduct from my taxes?
Health Insurance cost, leased auto, computer equipment, home office? I am starting a non-profit 501(c) organization before the end of the year but have been working on the launch all year.
P.S. I also traveled to a few potential partners and job interviews.
Submitted: 1 year ago.Category: Tax
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11/24/2016
Tax Professional: Barbara, Enrolled Agent replied 1 year ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,445
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Based on the information you provided, it appears you have received self-employment income. There are many expenses you can deduct from this income, and the following list contains an excellent list of those expenses:

http://quickbooks.intuit.com/self-employed-center/complete-list-of-self-employed-expenses-and-tax-deductions/

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Tax Professional: Barbara, Enrolled Agent replied 1 year ago

Just following up with you to see if you have any other questions. If so, please let me know so I can assist you further.

Best regards,

Barb

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Barbara
Barbara
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Category: Tax
Satisfied Customers: 4,445
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Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

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