Posted by Joe S. on January 31, 2001 at 00:39:15:
In Reply to: Tax Questions on new horns posted by Jay on January 30, 2001 at 22:55:08:
Probably so. Any accountant or bookkeeper (your parents'?) can help with this. You might need to use what used to be called the "long form" (itemizing), but I'm not sure about that at all. I am pretty certain that this will be "depreciated" over quite a number of years, which will spread out your deduction over all of those years.
Ask you accountant/bookkeeper about the best strategy here.
BTW, if the tuba was a gift from someone else, it might be hard to put forth as an "expense".
REMEMBER - I know ALMOST nothing about this stuff.