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ArtistLife
Returning Member

Art supply deductions

I am a self-employed artist doing business taxes for the first time. My supply deductions (paint, brushes, canvases, etc.) equal more than $200. I have looked at the other deduction sections and none of those categories fit the items that are art supplies. Is it okay to list all the items in the supplies section, even if it equals more than $200, if they are all legitimate supplies? 

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3 Replies
MinhT1
Expert Alumni

Art supply deductions

Yes, it is quite legitimate to categorize these items as supplies. These supplies are a deductible business expense.

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ArtistLife
Returning Member

Art supply deductions

Thank you so much for responding! The only thing that worries me is the wording in the supply section that says "Supply expenses are incidental items that cost $200 or less or last less than a year." My expenses are over $900 for this section and most of the supplies will last me more than a year. That being said, I will only be deducting the cost of these supplies this year. 

TeresaM
Expert Alumni

Art supply deductions

If any of the supplies were more than $200 for an individual item, then it should be entered separately. However, if a collection of supplies were eligible expense for your business and all were under $200 each but together totaled over $900, they may be entered as expenses in the current year.

For any that are under $200, you can enter those in the Other Miscellaneous Expenses category and you can list a description and a price for each type of expense. You can group some things together but if you have a few types of categories it is easier to remember details later, such as next year when you are thinking of what expenses you might need to claim.

Please go into your Schedule C and check the Other miscellaneous expenses.  You may remember those expenses but if they are not valid this year, just backspace over the category. 

 

 

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