Message Font: Serif | Sans-Serif
No. of Recommendations: 0
[[I'm an individual investor. I have a 9-5 job. In 96 I bought a computer and
printer etc.. for investing purposes. I used the computer about 75% for investing.
In 96 and 97 I used Tax Cut software to do my taxes. It filled out the form 4562
for the depreciation. I got a figure and thought that the software would transfer
that figure to the correct line on Schedual A.
I'm now finding out that it didn't. so I filed my returns with these forms attached
and never acually got the depreciation. Other than going back and amending my
returns is there anything I can do that won't get me audited????]]

Amending your tax return is the only thing that you can do if you want the deduction. But remember that your Sch A deductions are limited to 2% of your AGI. So make sure that your deduction for the computer is really WORTH something.

If you would like to read more about computers and depreciation, and the various deductions regarding computers, I have a post in the Taxes FAQ area that discusses that very issue. Check it out.

TMF Taxes

Want to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. It'll help you with your 1998 taxes, and it's never to early to start planning for your 1999 taxes. So just click on this link ( to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on and you'll be right at the home page. Check it out. Finally, if you need to get to the IRS web site, click on to go directly there.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.