Message Font: Serif | Sans-Serif
No. of Recommendations: 0
hi there fellow Fools, heres a tax question.
5 years ago when I entered medical school the school required the purchase of a particular home computer to the tune of $3100. a little more than a year ago I entered residency (paid job in medicine)and continued to use the computer for medical software use ect. I'm wondering if on selling the computer for 100 bucks you could count the remaining 3000 dollars as a capital loss on form 4797 since it was a required purchase for my "trade" (page 17 of IRS publication 544. I imagine this situation also applies to other folks out there (substitute medical school for the graduate or vocational program of your choice) thanks in advance for your advice.
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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.