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Author: FoolFann Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Form 4562 Depreciation. Date: 3/2/1999 3:22 PM
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Hello Tax Mavens!
I am an investor of my own capital(No earned income). I would like to claim the depriciation on my computer over 5 years. My question is do I have to file Form 4562-Depreciation/Amortization or can I simply include the depriciated amount on line 22 of Schedule A under Miscellaneous Deductions? Also can office furniture be depriciated in the same way? Thanks in advance for your help!
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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 11363 of 121585
Subject: Re: Form 4562 Depreciation. Date: 3/3/1999 1:19 AM
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[[I am an investor of my own capital(No earned income). I would like to claim the
depriciation on my computer over 5 years. My question is do I have to file Form
4562-Depreciation/Amortization or can I simply include the depriciated amount
on line 22 of Schedule A under Miscellaneous Deductions? Also can office
furniture be depriciated in the same way? Thanks in advance for your help!]]

File the Form 4562. And you can read more about deductions for your home computer in my post on that very issue in the Taxes FAQ area.

TMF Taxes
Roy

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Author: BadBone Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 33470 of 121585
Subject: Re: Form 4562 Depreciation. Date: 4/4/2000 8:34 AM
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For the computer, you have to fill out form 4562 if the computer's use was at least 50% for your business. If not, you can't write it off anyway. It falls in the category of things that must be written off over 5 years. The office furniture however fall into a category that makes it depreciable over seven years.

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