Feel embarrased to ask..

[rfk]

because trying I am trying to remember: A person has contacted me to represent in a self prepared return audit for TY 2007. I know the answer, but for some reason drawing a blank. It is for an asset that was depreciated 100% for Schedule C and 100% for Employee Business expense. Therefore, it had co-mingled use between the "C" and the "2106." It was a printer used for two different work functions. This cannot possibly be right correct because of the split of time used.

Thanks for your clearing up the air; I am just have a problem with thinking things through today.

rfk

[ChEAr$]

Assets

because trying I am trying to remember: A person has contacted me to represent in a self prepared return audit for TY 2007. I know the answer, but for some reason drawing a blank. It is for an asset that was depreciated 100% for Schedule C and 100% for Employee Business expense. Therefore, it had co-mingled use between the "C" and the "2106." It was a printer used for two different work functions. This cannot possibly be right correct because of the split of time used.

Thanks for your clearing up the air; I am just have a problem with thinking things through today.

rfk

never get depreciated at 100% in one year, let alone doubled up on c and 2106, but you know that.

What can be done of course is to take the section 179 allowance which is tantamount
to depreciation, the reason for your confusion.

Printers don't cost much these days; my daughter paid just $80 for one of my grandson the other day. So amend the return to remove one of those obviously duplicate deductions, and make sure the form 4562 is correct.

[fliszt]

Please don't ever

be embarrased to ask a question on this board. Even if this is your 1st year or 30th.
There are only a few on this board that don't ask questions -- only provide answers. You probably know who they are too.
with regards,
Larry

[rfk]

Thanks guys for the info

and encouragement. Sometimes the brain seems to freeze.

rfk

[S T]

Ask

Don't ever be embarrassed to ask a question, Lord knows I have asked a lot of them. The good thing, is that we all learn by them! We just hope responses are positive and not negative.

Your OP is always a challenge. Splitting expenses between C and 2106, been there, done that, had my hands slapped by an auditor once or twice.

ChEAr$ gave you some good advice.

Keep posting,

Sandy

[DTS]

Dumb questions

and encouragement. Sometimes the brain seems to freeze.

rfk

No one posts more "dumb" questions on this board than I do. Believe me, I have embarrassed myself way more than once! Like Sandy said, we all learn from them, regardless.

Don't worry about them, as you always post some good questions!

D

[Jesse]

No one posts more "dumb" questions on this board than I do. Believe me, I have embarrassed myself way more than once! Like Sandy said, we all learn from them, regardless.

Don't worry about them, as you always post some good questions!

D

The student in me has asked a ton of "dumb" questions and as well I have posted just as many "dumb" answers, especially during the heated tax season when the mind is truly tired! Although it may irritate someone, it more often stirs up some great discussion looking at issues from different points of view.

Keep asking and don't be afraid to answer either!

[tacks]

One thing i find funny and ironic is that we probably all know of some preparers outside this forum that really should be embarrassed!!!

So I agree with everyone on this thread. And I hope that rfk continues contributing to the forum.

(i belong to some other non-tax forums and i have to say this forum is darn good)

[thomtax]

Although it may irritate someone, it more often stirs up some great discussion looking at issues from different points of view.

Keep asking and don't be afraid to answer either!

Hey Jesse, are you just trying to irritate me?

One thing that some people seem to forget is that many of the posters are single person operations. No one person can be exposed to all things in all areas. What one person does every week, may only be seen every few years by others. So what may seem dumb to one person, is new to another.

LT

[Jesse]

Hey Jesse, are you just trying to irritate me?

LT

You know it!