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

[pete3138]

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?

[Coleen3 · Accepted solution]

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.

[pete3138]

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]

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

[Coleen3]

No.

[pete3138]

Thanks