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When to file 2106-EZ Form: What You Should Know
If you were required to file; enter the total expenses directly in line 31 (or enter it under line 7 on Schedule A (Form 1040) line 21) under “Total” expense section. This tax filing must be completed by the end of the same calendar year. (or, if your business was classified as fee-basis state or local government, and you wish to deduct only expenses for that state or locality.) Expenses The following expenses are excluded from your tax assessment and do not have to be reported on Form 1040. If you're an employee, you must include these in your tax return: Reasonable Expenses for: · Professional services: Your compensation and benefits from performing or teaching as a professional artist, musical instrument maker and instructor · Professional services provided to third persons in conjunction with the performance of your artistic performance or teaching: (a) Performing arts and performing-arts related professional instruction; (b) Professional dance performances and other similar entertainment; (c) Professional music entertainment; (d) Professional athletic and athletic-related instructional and instructional-related entertainment · Personal use of a private residence: Use of your private residence in your professional performance or instruction shall not reduce or negate the fair market value of the personal use of your private residence. · Business use of a private residence: A professional performing artist's or instructor's use of your private residence for business purposes is a nonbusiness use and not a rental, and the IRS has no interest in it. However, use of your private residence for business purposes may reduce the fair market value of the use by an amount equal to your nonbusiness use. · Travel expenses of an employee who performs your musical performance or teaches and for which you provide lodging: You cannot deduct the expenses of the travel, lodging, meals, entertainment, or incidentals you reimburse the performing artist, unless they are provided on a contingency basis and the expenses are related to the performance of your musical performance or teaching. · Professional travel for an employee who performs your musical performance and teaches and for which you provide lodging: If travel is provided for the performance of your musical performance and teaching in a foreign country, the amount you deduct is limited by the amount of compensation you receive. · Personal use of equipment for professional use: if you purchase or otherwise acquire and use equipment for your performing-arts-related business activities, you pay the capital cost.
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