I use my personal computer and computer equipment for business. Is there a depreciation schedule for computers and computer equipment?
Computers and computer equipment are considered listed property. If you used the computer for more than 50% business use, you can either:
- Use the modified accelerated cost recovery system (MACRS) method of depreciation to calculate the depreciation schedule for computers and computer equipment using a five-year class life.
- For the depreciation schedule for computers and computer equipment depreciation, you may claim a deduction under Section 179.
If the business use of the computer or equipment is 50% or less, you can’t take a Section 179 deduction or MACRS. Use the alternate depreciation system instead. This is the straight-line method. It has a five-year class life.
You must document the use of any listed property that you use for more than one purpose in the year.
If you’re itemizing deductions, the IRS generally allows you a medical expenses deduction if you have unreimbursed expenses that are more than 7.5% of your adjusted gross income for tax years 2017 or 2018. You can deduct the cost of care from several types of practitioners at various stages of care.
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