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Question: Can someone deduct their cable bill on their taxes if their job requires watching cnbc for stock information?

(Posted by: Cissy M on 2010-09-04 12:10:41)

Posted by: Mathew on 2010-09-04, 14:20:06

The answer is yes but the requirements to do so if challenged at audit are likely impossible. How would you prove you never watched anything else, for example.

Posted by: Flower on 2010-09-04, 12:24:05

If you are required to watch it in a non-working environment such as at home on off-hours. If you can watch it in your office, it is not tax deductible. Only a portion of the cable bill would be deductible, that portion which is for basic cable.

Posted by: Bobbie on 2010-09-04, 12:25:06

You would have the cable with out the job right. In order to even try and deduct any portion of the cable bill as a employer business expense as a part of your miscellaneous itemized deduction subject to the 2% of adjusted gross income limit you would have to have some very detailed records of the use of the cable for the business use portion of watching for the stock information on CNBC. Or would you do with out the cable if you did not have this job?

Posted by: the tax lady on 2010-09-04, 12:36:44

The IRS won't allow it. You'd never be able to show that you incurred an additional expense to watch this one show. Your employer will not issue you a letter requiring you to get cable.

Posted by: tro on 2010-09-04, 12:57:45

Not if the cable is also used for your personal use if it is required for your job, get another connection that is strictly for the business, the same as your phone bill, if you have on land line in your house, for you to be able to claim one for business you would have to have a 2nd line only for the business

Posted by: OC on 2010-09-04, 13:02:09

Cable bill expenses, even if required by your employer as a condition for your employment, are not included in the definition of the "unreimbursed employee expenses subject 2% of AGI ". That makes them virtually non-deductible.