Youtube business as sole proprietor operating out of my home.
I have purchased two cameras and a 2 lenses as well as some lighting equipment.
Do I need to meet the listed property requirements to use the de minimis election option on my deductions?
You'll need to sign in or create an account to connect with an expert.
you're supposed to use the business percentage for that.....and 179 or bonus depreciation....over 50% and then use the de minimis expense method if you want.
do i need to keep separate records to prove that I hit the 50%. I have no persona use for the camera equipment recorded, but The Camera is only ever used for business (youtube videos). They stay in my office area, and I use my phone for personal photography stuff. I guess I am asking how I prove a negative record...how do I prove that I did not use the camera stuff for personal use.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cparke3
Level 4
Aims173
Level 2
cparke3
Level 4
david-r-mullinax
Level 3
BrianH7
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.