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I received an income settlement in 2016, and I was required…

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I received an income...

I received an income settlement in 2016, and I was required to pay a fine by my employer for failing to follow a company rule. It was a large fine ($37,000)...since it wasn't a criminal fine but an employer fine, is it deductible in some way?

Accountant's Assistant: The Expert will know how to help. Is there anything else important you think the Expert should know?

Nothing I can think of at this time.

Submitted: 10 months ago.Category: Tax
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Answered in 18 minutes by:
10/4/2017
Tax Professional: Lev, Tax Advisor replied 10 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,319
Experience: Taxes, Immigration, Labor Relations
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Yes - that payment/expense is deductible as related to taxable income - specifically - to your wages.

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Tax Professional: Lev, Tax Advisor replied 10 months ago

That deduction is claimed as miscellaneous itemized deduction on schedule A - employee business expenses - subject to 2% AGI floor limitation.

You may add other employee business expenses if you have.

Let me know if you need any help with reporting.

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