I purchased my current camera equipment in 2017 prior to the formation of my business in 2018. Can I claim these as expenses for my 2018 return?

apmiterko · ‎June 1, 2019

I purchased camera equipment (two camera bodies, two lenses, batteries, memory cards, etc) all of which I’m still using as my prinary equipment. I formed my LLC in 2018, can I claim this equipment on my 2018 return?

AlanT · ‎June 1, 2019

No, you can only deduct expenses in the year in which they were paid.

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I purchased my current camera equipment in 2017 prior to the formation of my business in 2018. Can I claim these as expenses for my 2018 return?

Deductions & credits