Posted by Also on January 27, 2004 at 08:04:53:
In Reply to: Re: Writing off a new horn posted by Brian Frederiksen on January 26, 2004 at 21:16:16:
I believe that it would be considered capital equipment that would have to be depreciated over a number of years determined by the appropriate schedule for this type of equipment. Id you eventually sellit for more than the depreciated value the difference is taxed as "reacapture" at a higher rate. Unless you are a professoinal making enough income from it to justify it as a business expense it's probably not worth the effort.