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Qualified Performing Artist Deduction. In United States tax law, certain performing artists are eligible to deduct the expenses incurred in the course of their employment by § 62 (a) (2) (B) of the Internal Revenue Code.
Definition: qualified performing artist from 26 USC § 62(b)(1) LII / Legal Information Institute. qualified performing artist. (1) In general For purposes of subsection (a)(2)(B), the term “qualified performing artist” means, with respect to any taxable year, any individual if— (A) such individual performed services in the performing arts as an employee during the taxable year for at least 2 …
(b) Qualified performing artist.-- (1) In general. --For purposes of subsection (a) (2) (B), the term “ qualified performing artist ” means, with respect to any taxable year, any individual if-- (A) such individual performed services in the performing arts as an employee during the taxable year for at …
Free access to full-text of the Internal Revenue Code, including Editor’s Notes and updated continuously, from Bloomberg Tax. ... The deductions allowed by section 162 which consist of expenses paid or incurred by a qualified performing artist in connection with the performances by him of services in the performing arts as an employee.
Feb 21, 2021 · If you are a performing artist, such as an actor, dancer or musician, payments that you receive from someone who is not your employer (for example, payments for freelance work) may be considered income from self-employment and reportable on Schedule C, Profit or Loss from Business. ... Early Refund Advance Loans are available to qualified ...
Jun 07, 2019 · You are considered a qualifying performing artist if you meet the following requirements: - Performed services in the performing arts as an employee for at least two employers during the tax year. - Received at least $200 in wages from each of the two employers.
Jun 28, 2019 · In the rules of the Internal Revenue Service, there is a special category called the "qualified performing artist," which used to be of significant value …
If you meet all the requirements for a qualified performing artist, include the part of the line 10 amount attributable to performing-arts-related expenses in the total on Schedule 1 (Form 1040), line 11, and attach Form 2106 to your return. Your performing-arts-related business expenses are deductible whether or not you itemize deductions.
Or, you can write to the Internal Revenue Service, Tax Forms and Publications, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. ... You are a qualified performing artist claiming performing-artist-related expenses. You are a fee-basis state or local government official claiming expenses in performing that job.
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