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Jennifergray706yahoo
Level 1

I was told I could claim my new computer on my taxes. If so how do I do it and do I need to find my receipt?

 
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HelenC12
Employee Tax Expert

I was told I could claim my new computer on my taxes. If so how do I do it and do I need to find my receipt?

Yes, you may be able to claim your computer.

 

If you're a student, a computer for school purposes may or may not qualify for these credits.

  • Generally, if your computer is a necessary requirement for enrollment or attendance at an educational institution, the IRS deems it a qualifying expense.
  • If you are using the computer simply out of convenience, it most likely does not qualify for a tax credit.
  • To enter education expenses, type education expenses in the search box. Click on Jump to education expenses in the results box.

No, you can't deduct your computer if you are an employee. The cost of a work computer is no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017.

  • Prior to the tax law change, employees could deduct the depreciation on unreimbursed computers they purchased if the computer was required for their job and its use was for the employers' convenience.
  • Work computers purchased for the convenience of the employee (including those that were purchased so the employee could work at home) didn't qualify for a deduction.

 

Yes, you may be able to deduct you computer if you are self-Employed:

  1. If you use your computer to generate income or run your business, you can either write it off as a business expense under the business safe harbor election (up to $2,500) or treat it as a business asset.
  2. As a business asset, you have a choice between deducting depreciation for the next 5 years or the full cost in the year you acquired it (assuming it qualifies for Section 179 treatment).
  3. To enter, see Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...

 

 

Sources: TurboTax Article 

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1 Reply
HelenC12
Employee Tax Expert

I was told I could claim my new computer on my taxes. If so how do I do it and do I need to find my receipt?

Yes, you may be able to claim your computer.

 

If you're a student, a computer for school purposes may or may not qualify for these credits.

  • Generally, if your computer is a necessary requirement for enrollment or attendance at an educational institution, the IRS deems it a qualifying expense.
  • If you are using the computer simply out of convenience, it most likely does not qualify for a tax credit.
  • To enter education expenses, type education expenses in the search box. Click on Jump to education expenses in the results box.

No, you can't deduct your computer if you are an employee. The cost of a work computer is no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017.

  • Prior to the tax law change, employees could deduct the depreciation on unreimbursed computers they purchased if the computer was required for their job and its use was for the employers' convenience.
  • Work computers purchased for the convenience of the employee (including those that were purchased so the employee could work at home) didn't qualify for a deduction.

 

Yes, you may be able to deduct you computer if you are self-Employed:

  1. If you use your computer to generate income or run your business, you can either write it off as a business expense under the business safe harbor election (up to $2,500) or treat it as a business asset.
  2. As a business asset, you have a choice between deducting depreciation for the next 5 years or the full cost in the year you acquired it (assuming it qualifies for Section 179 treatment).
  3. To enter, see Where do I enter my self-employment business expenses, like home office, vehicle mileage, and suppli...

 

 

Sources: TurboTax Article 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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