In the Self Employment section, you can set up the Piano as a Business Asset and claim depreciation on it from the date you first started using it for business.
You will have several choices of your Method of Depreciation to use.
Click this link for detailed info on Depreciation of Business Assets.
This link gives info on calculating the Cost Basis of a Business Asset.
As far as taking an additional expense deduction for a Home Office, unless you actually earn income from your Home Office (give piano lessons, for example), you may not want to claim this deduction.
Click this link for detailed info on Taking the Home Office Deduction.
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