Janice purchases a computer for her business costing $3,400
deductible? (yes / no)?
if deductible, amount $?
Reason?
Question | Answers | |||||||||||||
Deductable / not | Yes | |||||||||||||
Amount of deduction | $ 3400 | |||||||||||||
Reasons | ||||||||||||||
if a computer is purchased for own business, you can deduct the entire amount in the 1st year itself instead of depreciated each year | ||||||||||||||
Under Section 179, you can deduct in a single year the cost of tangible personal property (new or used) that you buy for your business, including computers | ||||||||||||||
If you used the computer for personal and business use, only proportionate deduction available, it is assumed that the computer is used only for business prupose |
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