Anonymous
Not applicable

Self employed

Any self employment income gets reported on Schedule C. You can take any expenses that are ordinary and necessary in the course of your business on Schedule C. Therefore, the laptop purchase can be taken as a deduction on Schedule C against your self employment income. You can either write off the laptop in the current year to maximize tax savings for just this year or you can depreciate it over 5 years and take smaller tax savings for 5 years. 

Am I considered self-employed?

What self-employed expenses can I deduct?

Where do I enter Schedule C?

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