Can i deduct internship expenses

I will be filing my taxes as an independent. Improve this question. How on Earth are you going to justify being a "contractor" when doing an internship? That's such a blatant fraud You don't need to be a contractor to qualify for a temporary relocation tax deduction What did you mean by "filing my taxes as independent" then?

And what is the "temporary relocation tax deduction" you're talking about? I meant that I will not be filing as independent rather than dependent. I guess that was irrelevant. Add a comment. Active Oldest Votes. Sign up or log in Sign up using Google. However, non-profits can offer you a student internship and compensate you with a stipend. You must agree to work as a volunteer. The stipend is considered a nominal payment and may not exceed 20 percent of what an employee would make doing the same job.

If you receive a stipend, you will get a Financial Statement in lieu of a W Non-US residents get a S form instead. Reporting any taxable portion of a stipend on your tax return is your responsibility.

Both for-profit and non-profit organizations can offer unpaid student internships. However, since , courts have used a "primary beneficiary test" to determine which party, the employer or the intern, is primarily benefiting from the relationship. The U. Department of Labor, Wage and Hour Division has identified these seven factors as part of the test:. When you are paid wages, the earnings are taxable income just like wages for any other job and must be reported when you file your tax return.

You can deduct job-related expenses as other employees do. When you enter in the income into the program, keep going through all the interview questions till you get to the deductions and credits section. Is this deduction available for an internship that was paid with neither W-2 nor MISC and therefore appears as "other income" on Schedule 1? If so, where do I report the expenses?

If you are reporting income without a W-2 or MISC, it would be considered earned income subject to self-employment tax.

TurboTax will automatically cover this if you are eligible. Some exceptions, such as military, apply. Some states still allow a deduction for unreimbursed employee business expenses. I see that the answer to this question may have changed for tax year So, to clarify, if internship income was reported on a W-2, would lodging or meals and even meals while on month-long company trips be deductible? No, this is no longer the case. Job-related expenses for employees are no longer deductible under the new law.

Please see the TurboTax Help article " Can employees deduct any job-related expenses? Just to clarify, do the Tax Cut and Jobs Act rules around eliminating deductions for employee business expenses also apply if you received a MISC and thus weren't a full employee of the organization?