I personally lease a $4,000 computer to a C Corp, how can I write it off?

[1sagebrush]

I personally lease a $4,000 computer to a C Corp and they give me a 1099-MISC for the rent/lease. Is it possible to write it off as a personal business expense in TurboTax Home & Business? It was purchased in Feb of 2019 but I haven't written anything off on it yet. Can it all be done in one year?

[DaveF1006]

No, you would need to begin depreciating it in the year you placed it in service, which is 2019. Since the item is more than $2500, you would not be able to expense it under the safe harbor election but you could take a full 179 deduction for the $4000 amount in 2019.

You will need to amend your 2019 return to claim the deduction unless you placed it in service in 2020.  if so, you can claim it on your 2020 return without amending your 2019 return.

T