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I was just wondering that if I have saved all my receipts from the tools I have bought would I be able to put that on my tax return. Would I get any money back? I live in Ohio.
Generally, you can deduct amounts you spend for tools used in your work if the tools wear out and are thrown away within one year from the date of purchase.
You can depreciate the cost of tools that you use in your work and that have a useful life of longer than a year, or you can choose to deduct up to $20,000 of the cost of any of those tools.
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