Deducting Laptop From Schedule E

[Andy R.]

Hi, BP

How do we deduct a new laptop on the Schedule E form?

As you may know, each property has a separate column where we can deduct the property's expenses like: Mortgage Interest paid, Taxes and Repairs.

Under what expense would we deduct the cost of a new laptop? Supplies?

Also, since the laptop is being used to service and manage all the properties, under what column/property do we put it in?

Thank you,

Andy

[Ashish Acharya]

Originally posted by @Andy R.:

Hi, BP

How do we deduct a new laptop on the Schedule E form?

As you may know, each property has a separate column where we can deduct the property's expenses like: Mortgage Interest paid, Taxes and Repairs.

Under what expense would we deduct the cost of a new laptop? Supplies?

Also, since the laptop is being used to service and manage all the properties, under what column/property do we put it in?

Thank you,

Andy

 Yes, you can if it's under $2500. Make sure you attach de minimus election on your tax return. 

Hopefully, the laptop is 100%. 

Or, if you are subject to QBI income Limitation, it will make sense to capitalize your asset so that your asset basis for QBI deduction goes up. f this goes over your head, talk to tax advisor.