Do You Work From Home? You Might Be Eligible For Tax Deductions

Do you work from home? You might be eligible for tax deductions that wouldn't otherwise be available to in-office employees.

Before we dish the tax tips, though, it's important to note that these deductions for job-related expenses are only for tax years prior to 2018. Unreimbursed employee expenses are no longer deductible for tax year 2018 and on, according to TurboTax.

If you have a home office that's used exclusively and regularly for business purposes, you might be able to file for a tax deduction for those expenses, including mortgage interest, property taxes, homeowners insurance and some utilities, according to TurboTax.

If you use your personal car for work travel or pay for work meals out of your own pocket, that could also qualify as a tax deduction. But your employer cannot be reimbursing these expenses. If your employer partially reimburses the standard business mileage rate, the excess amount per mile can be deducted.

For any tax-related expenditures, you should keep thorough and accurate records, including proof of payment and receipts.

If you qualify for any of these job-related expenses, here's how to file: Report them in the Schedule A, Itemized Deductions section on Form 2106, Employee Business Expenses, which is attached to your Form 1040. If you don't itemize the deductions, you can't deduct unreimbursed employee expenses.

TurboTax warns these deductions are subject to a 2% floor:

"This means that only those amounts that are greater than 2 percent of your adjusted gross income can be deducted. For example, if your adjusted gross income is $100,000 and your total miscellaneous deductions are $4,500, you can deduct only $2,500 —2 percent of $100,000 is $2,000, and the amount over that is deductible."

Tax Day is just over a month away, but you still have more time to file your taxes even after the April 15 deadline.