Eligible Expenses
The specific expenses listed below are currently considered by the Internal Revenue Service (IRS) to be eligible commuting expenses. Please Note: This list is subject to change at any time based upon IRS guidance.
- Transit Passes. Your cost for any pass, token, fare card, voucher, or similar item that entitles you to transportation on mass transit facilities to and from work.
- Vanpooling. Your cost for transportation provided to you between your home and work by a person in the business of transporting people for compensation, in a commuter vehicle that seats six or more adults (excluding the driver).
- Your cost of parking provided to you at or near your JPMorgan Chase work location; or
- Your cost of parking at or near a location from which you commute between your home and work by vanpooling, carpooling, or mass transit. (This does not include parking at or near your home, for example, in an apartment building's parking garage.)
In calculating the cost of your monthly expenses, you should take into account any discounts that you receive. If you fail to do so, you may be in receipt of taxable income.