@Mike9241 Thanks for that information. Just to clarify...How did you determine the $6k deduction of AGI?
In my situation I am setting up a crypto mining business that I should have some slight income before the end of the year depending how quickly I can set it up. For the sake of argument let's say I made $200 for the year. The computer equipment will cost me about $31k. My 2021 AGI from W-2s, etc. will be roughly $164k. I was hoping to write-off a portion or all of the equipment to get my AGI to around $145k for the year... Is this possible or how is the write-off calculated in my situation (example provided above)?
Thanks!
