music equipment and software bought

lurob1 · ‎March 17, 2025

Can I write off music equipment and software bought in 2024 for my recording studio but I do not have an EIN or business license yet.

MaryK4 · ‎March 17, 2025

An activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and you are involved in the activity with continuity and regularity. Depreciation starts when you first use the property in your business or for the production of income- so if you are in business, you can deduct but if you are still in preparation stage, but if you in the preparation stages (no income) you may want to wait.

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MaryK4 · ‎March 17, 2025

An activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and you are involved in the activity with continuity and regularity. Depreciation starts when you first use the property in your business or for the production of income- so if you are in business, you can deduct but if you are still in preparation stage, but if you in the preparation stages (no income) you may want to wait.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

lurob1 · ‎March 18, 2025

Thank you

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music equipment and software bought