Can I take depreciation on my computer and cell phone that I used for business purposes?
If you used your cell phone or computer for your business (even if you also used it for personal use), you can claim depreciation.
Go to Menu Path: Income > Business / Rental Income > Business Income (Schedule C), choose to Add or Edit your business, and then click Add for Depreciable Assets. You'll be asked to enter information about your cell phone or computer, such as the purchase price and the percentage it was used for business.
Remember that to be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business.
Go to Menu Path: Income > Business / Rental Income > Business Income (Schedule C), choose to Add or Edit your business, and then click Add for Depreciable Assets. You'll be asked to enter information about your cell phone or computer, such as the purchase price and the percentage it was used for business.
Remember that to be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business.
