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Tax Deductible?

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mrryder

Junior Member
I won a toolbox in a competition at the company I work for.The toolbox is worth almost 6,000 dollars. I use this toolbox at my job as a diesel technician. On one of my last pay stubs in 2005 the price was added to my earnings as NCGUpTtL and a TaxNCGUp. Since these are on my earnings can I deduct the toolbox on my taxes as a work related expense? I live in Maryland.Thank you.
 
Last edited:


abezon

Senior Member
If the value of the box was included in your W-2 box 1 wages, you can deduct it as an employment expense.
 

mrryder

Junior Member
Reply

TaxNCGUP is what my company paid for taxes on prize won at the competition. NCGUPTtl is the total of the taxes and the prize won. It is in box one of my W-2 earnings. Thanks MRRYDER
 

mrryder

Junior Member
Snipes5 said:
You need to tell us what those initials stand for, and then maybe we can help you.

Snipes
TaxNCGup is the taxes that my company paid because of the toolbox. It was in my earnings column on my paycheck. NCGUpTtl is the total of the toolbox and the taxes. That went in my YTD column on my paycheck. They are in the total of box one on my W-2. Thanks, MRRYDER
 

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