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I'm depreciating my computer, again. I'm an investor, which line does it go on?
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I'm depreciating my computer, again. I'm an investor, which line does it go on?

***Sorry, I missed that one!=:) Investment expenses, as are employee business expenses (mentioned in the prior post), are deducted on Schedule A, (Form 1040) "Itemized Deductions" (Line 22,) and are subject to the a 2% reduction based on your adjusted gross income. Form 4562 would apply as well.

"Jack"
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Be careful: When you use a computer for investment purposes AND for personal stuff like surfing the net, the IRS requires that you keep a log of your usage. At the end of the year you use the log to determine what percentage of the time was used for investment purposes. That percentage is multiplied by the depreciation of the computer for that year. The log must be available in case of IRS audit. There is software out there whcih generates such a log for you, but I have no experience with it.

Joe Varga
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[[ I'm depreciating my computer, again. I'm an investor, which line does it go on?]]

It'll go on Schedule A as a miscellaneous itemized deduction. Check out your Schedule A and you'll find the "Miscellaneous Itemized Deductions" section near the bottom of the form.

I don't have a Sch A in front of me. I'm sure that you can find it.

TMF Taxes
Roy
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