Posted by pdonoh on January 31, 2001 at 09:31:32:
In Reply to: Tax Questions on new horns posted by Jay on January 30, 2001 at 22:55:08:
If you are reporting all the income you received from the private lessons, there is a possibility of writing off the cost of the tuba (depreciated over several years, the first year you can take off a big chunk) up to the amount of income. Where there is a problem is that the tuba is kind of like the home office deduction. Are you using this instrument exclusively in your "business"? Probably not. See a qualified tax person.