You'll need to sign in or create an account to connect with an expert.
No. they would be an investment expenses that are not currently deductible for federal income tax purposes
No, Assets for Depreciation would need to be attached to a Business of some sort (Schedule C) or Rental Property (Schedule E).
An asset is property you acquire to help produce income for your business.
Here's more info on Depreciation of Business Assets.
No. they would be an investment expenses that are not currently deductible for federal income tax purposes
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
howverytaxing
Returning Member
m12345$$!!6
Level 2
rmorvik314
New Member
ghettodawg
Level 2
kevin167
New Member