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I have some business expenses and regularly do a Schedule C to write off these expenses. It's usually several thousand dollars a year, and it has come to my attention that some of my business purchases might be eligible for claiming depreciation. My rather simple question is whether or not I can claim depreciation on something (say, a computer or a printer) if I originally wrote off the purchase price of the unit the year that I bought it? Isn't it an either/or situation, where I can either write off the original purchase or claim depreciation, but not both?
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My rather simple question is whether or not I can claim depreciation on something (say, a computer or a printer) if I originally wrote off the purchase price of the unit the year that I bought it?

You may not.

Isn't it an either/or situation, where I can either write off the original purchase or claim depreciation, but not both?

Technically speaking both are the same. If it's depreciable property you depreciate it. There is section 179 accelerated depreciation which under certain conditions allows you to fully depreciate an asset the year you buy it.

Phil
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