I am a musician, and I purchased an iPod in order to listen to and study music I either perform or have my students perform while I travel. I have downloaded my own and my students' recordings onto it as well to study. I also happen to use it daily at the gym while I work out. Can I deduct any portion of the total cost of the iPod ($399.00)from my taxes?
2007-01-25 03:19:01 · 5 answers · asked by Concert A 1 in Business & Finance ➔ Taxes ➔ United States
If you are a teacher you can deduct up to $250 on out of pocket class room expenses
2007-01-25 08:08:37 · answer #1 · answered by jth021 2 · 0⤊ 0⤋
When I read the opening question, I chuckled. Reading on, it would appear that your iPod is a bona fide tool of your trade. As you would be claiming it in good faith, go for it. The IRS wouldn't likely consider this an infraction. The worst that would probably happen is that you'll be audited and have to pay the taxes on your $399.
Of course, if you are audited, the agent has to tell you PRECISELY the reason(s) for the audit if, and only if, you ask. Ask this over the phone when setting the appointment. If the reason is your business deduction for the iPod, just plan on paying the tax rather than arguing the point and inviting greater scrutiny. If it is not, don't bring it up.
2007-01-25 11:36:57 · answer #2 · answered by Rob D 5 · 0⤊ 0⤋
Yes -but it depends. this is considered an itemized deduction in most cases. For example, my job requires me to play and study video games at home so I expense the games I purchase.
2007-01-25 11:28:51 · answer #3 · answered by tiartist21 1 · 0⤊ 0⤋
I got a free iPod from this site, I highly recommend it!
2007-01-25 13:20:49 · answer #4 · answered by bad t 1 · 0⤊ 0⤋
If it was purchased for business use, then you should be able to.
2007-01-25 11:27:15 · answer #5 · answered by S H 6 · 0⤊ 0⤋