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I previously read some posts on a possibility of deducting a computer, if it is used for tracking investments etc. I paid $2400 last year (10/97) for a computer and primarily use it for my investing purposes. Obviously, I did not keep a log of the usage. Iwould like to know if I can deduct this computer. If I could, how can I do it? I am going to use TurboTax. Is there a way to do it using TurboTax? How does the depreciation method works? Pleeeze Help !!
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No. of Recommendations: 0
[[I previously read some posts on a possibility of deducting a computer, if it is used for tracking
investments etc. I paid $2400 last year (10/97) for a computer and primarily use it for my investing
purposes. Obviously, I did not keep a log of the usage. Iwould like to know if I can deduct this
computer. If I could, how can I do it? I am going to use TurboTax. Is there a way to do it using
TurboTax? How does the depreciation method works? Pleeeze Help !!]]

The discussion regarding the deduction for home computers is a current weekly tax article in the Taxes FAQ area. You should check it out for more information.

TMF Taxes
Roy

SPECIAL NOTE: I try to answer as many questions as I can each week, and I generally select those that have not been asked before. If you don't get a detailed answer to your question, it is probably because my time is so limited during tax season, or because it has already been asked and answered in this folder in the past, or because it has been discussed in the Taxes Frequently Asked Questions area. In order to visit the Taxes FAQ area, go to the Fool's School area (http://www.fool.com/school.htm) and check out "Other Features" in the list box, OR you can jump directly to the Taxes FAQ area (http://www.fool.com/school/taxes/taxes.htm). Additionally, if any references were made to the IRS Web Site, you can get there by pointing your web browser to (http://www.irs.ustreas.gov)
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