I am a court reporter and I purchased my stenography machine in 2018. I am now self employed. Can I deduct the cost of the machine in 2019?

[AnnetteB6]

You can depreciate the machine as an Asset used in your business, but you would not be able to deduct the full cost in 2019.  

@dserpa5

[LindaLou2023]

Did you write off the rental of equipment when you were renting it for school?  My son is working on his 2 year court reporting degree and paying $60.00 a month rental on the stenography equipment.  Trying to figure out if we can deduct the equipment rental, he only qualifies for the Hope Credit.  Any suggestions?

[AmyC]

You are posting on an old thread. The Hope credit no longer exists. Instead, you might be able to take the Lifetime Learning Credit. Only tuition is allowed for the LLC.

Available Education Credits

IRS Q & A about education credits

Tax Benefits for Education: Information Center| IRS

@LindaLou2023 

[LindaLou2023]

Thank you Amy for the advice and the link.  I am helping my son do his taxes and thank you.  He is not a LLC, just a second year stenography student and the school offered a rent to buy $60.00 a month machine (he also had to get it fixed for a hefty sum).  He should have the 2 year associate degree (and the speed) to qualify by beginning of 2024.   Thank you again!