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pete3138
New Member

I have retired from being self-employed. Can I still claim depreciation on my camera equipment on schedule C?

Even though I did not work at all in my occupation last year, I was still available, so can I still deduct the remaining depreciation on my equipment?

1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

I have retired from being self-employed. Can I still claim depreciation on my camera equipment on schedule C?

No. If you have retired from the business, you can no longer deduct any expenses. Being available is not the same as having a profit motive.

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5 Replies
Coleen3
Intuit Alumni

I have retired from being self-employed. Can I still claim depreciation on my camera equipment on schedule C?

No. If you have retired from the business, you can no longer deduct any expenses. Being available is not the same as having a profit motive.

View solution in original post

pete3138
New Member

I have retired from being self-employed. Can I still claim depreciation on my camera equipment on schedule C?

If I'm still in business, but did no work and received no income, then could I claim the depreciation?  (P.S.  This is now a rhetorical question because I have already gone back and converted the equipment to 100% personal use, so now there is no equipment to depreciate.)
pete3138
New Member

I have retired from being self-employed. Can I still claim depreciation on my camera equipment on schedule C?

In other words, if I'm a freelancer and received no assignments over the year, could I still deduct equipment depreciation?
Coleen3
Intuit Alumni

I have retired from being self-employed. Can I still claim depreciation on my camera equipment on schedule C?

No.
pete3138
New Member

I have retired from being self-employed. Can I still claim depreciation on my camera equipment on schedule C?

Thanks
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