I currently finance my cell phone (the phone only, this is unrelated to the service) from Apple

I currently finance my cell phone (the phone only, this is unrelated to the service) from Apple, through the iPhone Upgrade Program. This program is essentially a 24 month interest free loan, through Citizens One.

I use my phone for Business (50% of the time). Am I able to write off any portion of the monthly payments I make toward the phone? Would I be treating this as a Communication Expense, or does the phone count as a Business Asset?

1518

Expert Alumni

Jun 3, 2019 5:02:19 PM

If you finance your phone through a loan, you are considered as having bought the phone and owing the balance to the program.

If you are using the phone for business 50% of the time, then you can deduct 50% of the full price of the phone as a business expense as the phone costs less than $2,500. You can list it under Miscellaneous expense.

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I currently finance my cell phone (the phone only, this is unrelated to the service) from Apple