nancyb1209
Level 2
12-07-2019
06:50 AM
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client is in the entertainment business.
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abctax55
Level 15
12-07-2019
06:50 AM
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Collectible *Artwork* isn't deductible (or depreciable). IKEA *artwork* is
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poolcleaner
Level 9
12-07-2019
06:50 AM
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It is part of the decor for the office so why would it not be deductible?
sjrcpa
Level 15
12-07-2019
06:50 AM
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If it will, or is expecred to, increase in value it is not depreciable property. Artwork vs artwork.
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poolcleaner
Level 9
12-07-2019
06:50 AM
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Shouldn't much of it be subject to de minimis ? Much of what I have seen lately is definitely not expected to appreciate. :smiling_imp:
sjrcpa
Level 15
12-07-2019
06:50 AM
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Probably but OP didn't specify. I remember having an argument many many years ago with a client about why he couldn't depreciate a $10,000 painting he bought for his office. (I won and he is still my client)
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IRonMaN
Level 15
12-07-2019
06:50 AM
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I know of IKEA, but I have never shopped there. Is their artwork somewhere around the $9,000 mark :stuck_out_tongue_closed_eyes:
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George4Tacks
Level 15
12-07-2019
06:50 AM
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Yes, about 9,000 Mark in 1920 Deutsche Mark.
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abctax55
Level 15
12-07-2019
06:50 AM
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Yeah, sure...as long as you move the decimal to the left a bit.
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Just-Lisa-Now-
Level 15
12-07-2019
06:50 AM
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If I go to one of those Paintnite.com classes and bring the art I painted to hang in the office, can I deduct the cost?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
poolcleaner
Level 9
12-07-2019
06:50 AM
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The cost of the canvas and the paints!
Just-Lisa-Now-
Level 15
12-07-2019
06:50 AM
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:+1:
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪