Can I get a tax write off for my personal computer if I have been using it for work purposes?

You've owned it for several years, and only recently started using it for your job? No you can't write it off.

You can only write off (claim capital cost allowance) the computer over a number of years if you are in the BUSINESS of trading stocks, which means that you trade stocks daily or frequently of not too small quantity. If you have a full time job elsewhere, and invest in stock infrequently, you may not write off the computer. Holding the stocks in a company may allow the company to claim capital cost allowance for the computer. However, the deduction does not flow to your personal tax return.

Unreimbursed employee expenses are taken only when you can itemize your deductions on Schedule A. If you are single, the amount on Schedule A has to be greater than $5,700 to give you any benefit.

Use Form 2106 to figure your unreimbursed expenses, which may include depreciation on the equipment you mentioned.

The amount on Form 2106 is transferred to Schedule A and reduced by 2% of your AGI.

Bottom line: It is going to be complicated and probably of little or no benefit for you to take these deductions.

You have to prorate the amount of personal use from the cost and then you are only able to write-off the amount per MACRS depreciation calculation. You cannot write-off the whole thing in one year obviously.

I think only a percentage of the cost of the equipment and software can be written off your taxes. Check with the IRS or a tax attorney to be sure.

You have to meet two qualifications:

1. You work at home for the CONVENIENCE OF YOUR EMPLOYER

2. You use the computer 100% of the time for work.