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Old 01-12-2006, 03:29 PM
Shagnasty
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Default Re: When does one use Form 2106?

"Arthur Kamlet" <kamlet[at]panix.com> wrote:
- quote -

> lamb.lost[at]gmail.com <lamb.lost[at]gmail.com> wrote:

> > I am a full time graduate student, my wife is a physician.
> > We moved mid-year (last) from another state to WA. She took
> > up a job here after completing her MD in the other state.
> > Her new employer here paid her relocation expenses which
> > appear as income on her salary. (She works for a healthcare
> > organization, she does NOT have her own practice/business).
> > > She uses the car to visit the hospital when "on call", as

> > well as to commute to work. On-call is defined as being
> > available on the phone, and if patients are sick, she
> > travels to the hospital, providing 24/7 coverage.
> > > She also uses the home computer to check status of patient

> > health, etc.,
> > > I pay full tuition for my graduate studies, and I use the

> > same car as well. (I don't work).
> > > Questions:

> > a) Can my wife claim car expenses when she visits the
> > hospital?
> > b) Can I gain any tax benefits being a full-time student?
> > c) Considering that she subscribes to journals(employer
> > reimburses her for this), and she incurred moving expenses
> > and educational expenses(during her medical internship-MD
> > before she started working), what tax breaks are available
> > for us?
> > d) When filing taxes, do we need to use Form 2106 or
> > something else for this?
> > e) I'm told one can get substantial tax breaks (around
> > $10,000) if one uses Form 2106. Is this a correct, lawful
> > interpretation? It doesn't sound kosher.


> Look at the 2106 and see the type of expenses -- generally
> travel and living -- automobile expenses.
> Medical journals, tools of the trade, medical uniforms,
> contract labor, etc go on Schedule A but do not go on Form 2106.
> In Ohio, many cities that tax income allow you to attach a
> federal 2106 and deduct 2106 expenses from local income.


Commuting from home to work is not deductible, but if she
drives from job location #1 to job location #2 during the
day and uses the car for business after the first business
stop, those miles are deductible, but the final trip back
home is not deductible.

Yes, you could conceivably have enough deductions on Form
2106 to get $ 10,000 back, but it is very unlikely that they
would be of that magnitude. The tax reduction would be the
amount of Form 2106 expenses (minus 2% of your Adj Gross
income) multiplied by your tax bracket. It is difficult to
get much benefit from Form 2106 unless you are a traveling
salesman with a lot of travel expense and a lot of car
mileage.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 
Old 01-10-2006, 12:19 PM
Arthur Kamlet
Guest
 
Posts: n/a
Default Re: When does one use Form 2106?

lamb.lost[at]gmail.com <lamb.lost[at]gmail.com> wrote:
- quote -

> I am a full time graduate student, my wife is a physician.
> We moved mid-year (last) from another state to WA. She took
> up a job here after completing her MD in the other state.
> Her new employer here paid her relocation expenses which
> appear as income on her salary. (She works for a healthcare
> organization, she does NOT have her own practice/business).
> She uses the car to visit the hospital when "on call", as
> well as to commute to work. On-call is defined as being
> available on the phone, and if patients are sick, she
> travels to the hospital, providing 24/7 coverage.
> She also uses the home computer to check status of patient
> health, etc.,
> I pay full tuition for my graduate studies, and I use the
> same car as well. (I don't work).
> Questions:
> a) Can my wife claim car expenses when she visits the
> hospital?
> b) Can I gain any tax benefits being a full-time student?
> c) Considering that she subscribes to journals(employer
> reimburses her for this), and she incurred moving expenses
> and educational expenses(during her medical internship-MD
> before she started working), what tax breaks are available
> for us?
> d) When filing taxes, do we need to use Form 2106 or
> something else for this?
> e) I'm told one can get substantial tax breaks (around
> $10,000) if one uses Form 2106. Is this a correct, lawful
> interpretation? It doesn't sound kosher.


Look at the 2106 and see the type of expenses -- generally
travel and living -- automobile expenses.

Medical journals, tools of the trade, medical uniforms,
contract labor, etc go on Schedule A but do not go on Form 2106.

In Ohio, many cities that tax income allow you to attach a
federal 2106 and deduct 2106 expenses from local income.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #-1  
Old 01-10-2006, 03:53 AM
lamb.lost@gmail.com
Guest
 
Posts: n/a
Default When does one use Form 2106?

I am a full time graduate student, my wife is a physician.
We moved mid-year (last) from another state to WA. She took
up a job here after completing her MD in the other state.
Her new employer here paid her relocation expenses which
appear as income on her salary. (She works for a healthcare
organization, she does NOT have her own practice/business).

She uses the car to visit the hospital when "on call", as
well as to commute to work. On-call is defined as being
available on the phone, and if patients are sick, she
travels to the hospital, providing 24/7 coverage.

She also uses the home computer to check status of patient
health, etc.,

I pay full tuition for my graduate studies, and I use the
same car as well. (I don't work).

Questions:
a) Can my wife claim car expenses when she visits the
hospital?
b) Can I gain any tax benefits being a full-time student?
c) Considering that she subscribes to journals(employer
reimburses her for this), and she incurred moving expenses
and educational expenses(during her medical internship-MD
before she started working), what tax breaks are available
for us?
d) When filing taxes, do we need to use Form 2106 or
something else for this?
e) I'm told one can get substantial tax breaks (around
$10,000) if one uses Form 2106. Is this a correct, lawful
interpretation? It doesn't sound kosher.

Please advise.

Thanks and regards,

lost.lamb

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

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