topic New Computer in 2023 in Self employed https://ttlc.intuit.com/community/self-employed-group/discussion/new-computer-in-2023/01/3425885#M15140 <P>I am IT Tech , I purchased a new computer for $4,000 for my work on December 2023 and forgot to deduct it from 2023 taxes ,</P><P>can I deduct it from 2024 taxes ? or it's to late ?</P> Mon, 20 Jan 2025 15:53:32 GMT fishy1841 2025-01-20T15:53:32Z New Computer in 2023 https://ttlc.intuit.com/community/self-employed-group/discussion/new-computer-in-2023/01/3425885#M15140 <P>I am IT Tech , I purchased a new computer for $4,000 for my work on December 2023 and forgot to deduct it from 2023 taxes ,</P><P>can I deduct it from 2024 taxes ? or it's to late ?</P> Mon, 20 Jan 2025 15:53:32 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/new-computer-in-2023/01/3425885#M15140 fishy1841 2025-01-20T15:53:32Z Re: New Computer in 2023 https://ttlc.intuit.com/community/self-employed-group/discussion/re-new-computer-in-2023/01/3425913#M15141 <P>It depends.</P> <P>&nbsp;</P> <P>If you are an employee, you cannot deduct this item as job-related expenses are not deductible.</P> <P>&nbsp;</P> <P>If you are self-employed and the computer is used for your business and was put in service in 2023, you'll have to amend your 2023 tax return to add it as an asset in your business and depreciate it or deduct it as a section 179 property if it is eligible.</P> <P>&nbsp;</P> <P>Please read this <A href="https://www.irs.gov/faqs/sale-or-trade-of-business-depreciation-rentals/depreciation-recapture/depreciation-recapture#:~:text=Under%20Internal%20Revenue%20Code%20section,place%20the%20computer%20in%20service." target="_blank">IRS article</A> for more information.</P> <P>&nbsp;</P> <P>Please read this <A href="https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US" target="_blank">TurboTax Help topic</A> on how to amend a prior-year tax return.</P> <P>&nbsp;</P> <P>&nbsp;</P> Mon, 20 Jan 2025 16:05:20 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/re-new-computer-in-2023/01/3425913#M15141 MinhT1 2025-01-20T16:05:20Z