Can I write off the cost of my home computer for tax purposes?

Apparently in many cases you can! IRS Publication 529 (available online at www.irs.ustreas.gov) says that you can deduct depreciation on your home computer if you use it to manage taxable investments. In addition, any software you use to manage investments (such as Quicken or Money) or prepare taxes (TurboTax, TaxCut) is also deductible. This is all subject to the 2% limitation for itemized deductions, of course. For more details you should contact your tax adviser.

January 2000

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