Can I deduct the cost of a new computer on my taxes? Yes, if you are using it more than 50% of the time for business purposes.
The article below is accurate for your 2017 taxes, the one that you file this year by the April 2018 deadline, including a few retroactive changes due to the passing of tax reform. Some tax information below will change next year for your 2018 taxes, but won’t impact you this year. Learn more about tax reform here.
Can I deduct the cost of a new computer on my taxes?
frivas from Twitter asks: "Wonder if I can deduct the cost of a new computer from my taxes."
Hi, I’m Megan Nearhoff and I work at TurboTax. The answer is: it depends. If you are using it more than 50% of the time for business purposes, then you can deduct the cost of the computer. If you are using it for just personal reasons, then you can’t. If you’re using your personal computer part of the time for business, then you can deduct that portion on your Schedule A. Hope this helps.
For more information: www.turbotax.com
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