A taxpayer has a cellular telephone, used percent for business and 55 percent for personal use. Is the MACRS depreciation method allowable? Explain Thank you !!!
2007-02-13 09:58:19 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
45 percent for business
2007-02-13 10:00:18 · update #1
No. In order for a cell phone or land line phone line to be deductible, it has to be used exclusively for business purposes. That means absolutely no personal use. Sorry, isn't even tax deductible, nevermind depreciating it.
2007-02-13 10:06:31 · answer #1 · answered by Fool in the Rain 6 · 0⤊ 0⤋
No depreciation deduction is allowable at all. The use must be more than 50% business to qualify.
2007-02-13 11:51:32 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
No. Business use has to be at least 50% to use MACRS.
2007-02-13 10:09:10 · answer #3 · answered by LC 2 · 0⤊ 1⤋
No.
2007-02-17 07:54:36 · answer #4 · answered by lehaoz 2 · 0⤊ 0⤋