Depreciation & T/S%

[Lyss]

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?

[TomCopeland]

Originally Posted by Lyss

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.