I have a 1099 for a side gig as a photographer and writer/ general media contributor. It’s a small part of my income, and I work a full time job with a standard W2 as well.
I’m looking to buy a decently powerful PC to upgrade from my 2012 macbook for photo and video editing, but I’d also use it for personal use and gaming.
I’m wondering: if I built my own PC (cheaper, more specialized to my needs) could I write that off even though I would be purchasing separate components?
Or, would it be easier to just buy a pre-built PC?
You can estimate the time you use the computer for business use vs personal and deduct the business portion.
You can write off the custom PC
Yes, as a percentage of business use. This gets depreciated as an asset, not listed as a direct expense.
e.g. You file schedule C, list the asset with the total cost of the components, list the percentage of business use, and then depreciate over the useful life of the asset, which for a computer is generally 5 years.
IRS allows for something called a Section 179 deduction, which basically allows you to frontload the depreciation schedule of the asset up to 100% in the year that the asset was placed in service.
Depending on your income tax bracket and expectation of your bracket for the next 4 years, it may or may not make sense to take a Section 179 deduction.
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As long as you show reasonable income for the work.
My wife being an artist had trouble writing off some equipment as the 1099 income was only a $1000 a year.
I wrote off everything when I was self employed. Straight write-off. No Depreciation.
Sure you can write it off on schedule C, but it probably not going to affect your taxes that much.
It’ll reduce your taxable income for sure, but the standard deduction is probably going to cover you anyway. So it’s not like your refund will get any larger.
You might be able to deduct part of it, but you can’t “write it off.”
You can right it off but you have to amortize it based on the IRS schedule for computers
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