I am starting a part-time contractor role (4hrs p/w) in addition to my W2 role. I am purchasing a new laptop that will be partially used for the role. Can I deduct this?

[forge_13]

I have a full-time role (W2) already. I am adding a part-time contractor role (4 hrs p/w) and am thinking about getting a new MacBook. This will be partially (but not entirely) used as part of my contractor role.
When I come to file next year, will I be able to deduct the MacBook purchase? Will I need to file any additional information other than the purchase invoice and my 1099 for my contractor work?

Thanks!

[MinhT1]

Yes, you can deduct the business use portion of your new laptop as a business expense.

If the laptop costs less than $2,500, you can directly deduct the expense. There is no need to depreciate it under the de minimis Safe Harbor election.

Please see this IRS document for more information.

[forge_13]

Thanks so much!

I am not acting as a business, but as an individual only. Does that affect anything?

[MinhT1]

Working as a part-time contractor is being self-employed. The following is advice for your 2020 tax return.

Income reported in box 7 of form 1099-MISC is self-employed income. You are considered as self-employed and in IRS parlance, are operating a business doing what you do to earn the income reported on the form 1099-MISC. TurboTax will populate a Schedule C after you enter all your information.

Self-employed income is subject to income tax AND self-employment tax (calculated at 15.3% on 92.35% of net self-employed income).

You do not own a business in the common meaning of the word. So in TurboTax answer that you use the cash method, that you do not have an EIN. You use your own name as the business name and your personal address as the business address.