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Question:

Self employed, deduction question. Can I deduct this chair?

I bought a chair for my home office. I'm never in the office unless I'm working. So, yes the chair would be deductible then.However, the chair caused far too many back problems. It was a bad 8-hour a day chair. So, I replaced it and moved it into my guest bedroom. It is no longer a deductible chair, or is it?

Answer:

but I will continue claiming a home office If the space is not dedicated solely to your business, you cannot claim it. But you do say I'm never in the office unless I'm working so I assume you are aware of this. The value of the chair for the duration you used it would be a legitimate deduction. However, the chair must be depreciated (5 year life) and then you must apportion the amount of time it was actually in use (before you retired it to the spare bedroom) against this year's depreciation. Example: Assume the chair was put into operation on Jan 1 Chair cost = $300 Year 1 depreciation at SL (Straight Line) = $60 (1/5 of $300) Time in use 2 months = 2/12 of $60 or $10 So your total deduction would be $10. Is it really worth the time and effort to figure this out? Overall, you are looking at a few dollars, at best, so I would not even bother.
unless you paid huge amount of money for the chair, since it has a useful like that you will depreciate, the amount of the depreciation will be very minimal and if the chair you purchased to use for your business but is no longer used for the business, no, it is no longer a business expense
Forget deducting the first chair.
No longer deductible, as it is for personal use. Deduct the new chair, forget the old one.
It was never a deductible expense. Generally speaking (with some exceptions), you can deduct the entire cost of something at one time only if it is something that is expected to last less than a year, like a sheet of paper that you use once and throw away. For things expected to last longer than a year, like furniture or computers, you deduct a small part of the cost, which is called depreciation, each year until you have deducted the entire cost. If you really want, you could try to deduct the depreciation of the chair for the time that it was in use, and then calculate the taxable recovery for the conversion for work use to personal use, but I think it would be too complicated for the tax savings to be worth the time.

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