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Old 02-24-2013, 04:33 PM
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Lyss Lyss is offline
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Default Depreciation & T/S%

I've never had to do any depreciation on my taxes but this year I have a few "big ticket" items I have a quick question about.

I know if they are over $100 the depreciation rules will apply, but if they will be used for both my DD & business use then I only claim the t/s% of the item right? So if the t/s% is less than $100 I just claim the full t/s% rather than deprecating the item? What if the t/s% is more than $100?
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Old 02-25-2013, 10:18 AM
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TomCopeland TomCopeland is offline
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Default depreciation

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Originally Posted by Lyss View Post
I've never had to do any depreciation on my taxes but this year I have a few "big ticket" items I have a quick question about.

I know if they are over $100 the depreciation rules will apply, but if they will be used for both my DD & business use then I only claim the t/s% of the item right? So if the t/s% is less than $100 I just claim the full t/s% rather than deprecating the item? What if the t/s% is more than $100?
You apply the depreciation rules for items costing more than $100, before applying the time-space %. So, if you bought something for $200 and your time-space % was 40% you would depreciate $80.
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