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Daycare and Taxes>First Filing Mistake (That I'm Aware Of...)
tn0087 02:27 PM 02-10-2012
I was finishing the archiving of my 2011 receipts when I stumbled upon a receipt for a Dyson vacuum we purchased in March (I completely forgot about the fact we purchased it this year...). Needless to say, this wasn't properly filed with our Daycare documents and I neglected to include it in the depreciables section.

Can I simply deduct it on next years taxes or do I need to file an amendment? I understand next year's special depreciation rule is only slated to be 50%, but though it was an expensive vacuum, I did the numbers and it only impacts this year's return by about $50. While I wouldn't turn down $50, I'm not sure if it warrants an amend...

Thanks!
Tim
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TomCopeland 12:01 PM 02-11-2012
I would amend. If you don't, you can't use the 100% rule or the 50% rule for 2012 (because you didn't buy it new in 2012). If you didn't amend you would put it on your 2012 tax return as the second year of 7 year depreciation.
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Tags:depreciation, receipts
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