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June 5, 2020
Question

How do I deduct my furniture purchases seeing as I’m a professional stager?

  • June 5, 2020
  • 2 replies
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Where do I deduct my furniture purchases for being a professional stager?

2 replies

SusanY1
June 5, 2020

If you work as an independent contractor, these will be entered in the Business Income and Expenses section of the program.

 

If you are an employee and receive Form W-2 the expenses can be entered in the Job-Related Expenses section of TurboTax under Deductions and Credits.  If filing as an employee, be aware that these expense are no longer deductible on your federal return.  

 

However, a few states still allow the deduction so entering the expenses here will allow TurboTax to determine if you are eligible for those deductions.  

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Carl11_2
Employee
June 5, 2020

As a professional self-employed staer you use furniture on a recurring basis to produce business income. Therefore the furniture is a business asset that is used on a recurring basis in the production of business income. Business assets are entered as sucn in the business assets section and get depreciated over time. If I recall , furniture is depreciated over 5 years.

If offered the SEC179 deduction (you probably will be) if you do ***NOT*** have the taxable ***BUSINESS*** income to take the deduction against, then taking the SEC179 deduciton is a waste of your time and will make no difference to your tax liability.