![]() ![]() The process for doing this is (roughly) outlined in the several screen-capture images found at the bottom of this text simply click the images to open. ![]() Here is the link to it (with all credit to the original contributor):Ī second viable option, which is given in this answer (and which is believed by this author to be more technically correct) is to enter the computer as an "Asset" not an "Expense," in the TurboTax software, and then elect the "de minimus expensing method" from within this section. You can choose office supplies, communications, or whatever, as your actual sub-category, since it really doesn't matter ( i.e., the tax outcome is the same). ![]() Simply substitute $2,500 for the expensing limits in that answer. One option is to follow the pathway laid out in this 2015 answer to a similar question, written by a TurboTax employee. The expensing "write-off" limit for 2016 is $2,500 (and most laptop computers cost less than that these days). In TurboTax Self-Employment, you can take this expensing route in one of two different ways. (Which, if you did, a computer traditinally has a depreciation "Class Life" of 5 years.) The IRS has recently (in the last few years) changed the rules for expensing and capitalizing assets for small businesses, so that you no longer have to capitalize and depreciate certain assets over a number of years. If the laptop computer is used for business at least 50% of the time, then yes, you can deduct it as a business expense.
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