Can i deduct the purchase of wood, screws, glue,clamps, tools and other items i bought for use in my woodworking business? i have all of my reciepts

[Marketstar · Accepted solution]

Yes, you can deduct all ordinary and necessary expenses needed to produce self employment income

The IRS defines expense ordinary and necessary expenses this way

• An expense is ordinary if it is common and accepted in your industry

• An expense is necessary if it is helpful and appropriate for your business

:You should deduct the above expenses in the Supplies category.