Thursday, July 30, 2009

Can I deduct my personal computer from taxes if im an employee?

I work for a printshop company and I want to leave early a couple of days a week and buy a computer to do some work at home. Can I deduct part of it in my taxes...?





Thanks

Can I deduct my personal computer from taxes if im an employee?
Only if your employer required it. And even then you would have to report it on form 4562 which would carry over to form 4106 - Employee Business expenses, which would carry over to Schedule A - Itemized Deductions under miscellaneous deductions, and total miscellaneous deductions would have to exceed 2% of AGI for the excess to be deductible.
Reply:TFBA Report It

Reply:Judy is correct.





It must be for your employer's convenience not your own. The example you give is clearly for your convenience and therefore, no deduction.
Reply:No, that's just for your convenience so you can't deduct it. If your employer required you to have one and use it for work, then maybe, but not under the circumstances you describe.
Reply:If you use it for work, then you can deduct it. Keep in mind though, if you do any personal stuff on the computer, then you can only deduct a percentage of it (the percentage that you use it for work).





Whether or not your employer requires it has nothing to do with it. If you buy it and use it ONLY for work, then you can deduct the entire amount.





Do you normally itemize on your taxes? Usually regular W2 employees fare better with the standard deduction, so make sure to figure out which is better.


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