nancyb1209
Level 2
‎12-07-2019 06:50 AM

client is in the entertainment business.

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abctax55
Level 15
‎12-07-2019 06:50 AM

Collectible *Artwork* isn't deductible (or depreciable).  IKEA *artwork* is :wink:

HumanKind... Be Both

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poolcleaner
Level 9
‎12-07-2019 06:50 AM

It is part of the decor for the office so why would it not be deductible?

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sjrcpa
Level 15
‎12-07-2019 06:50 AM
If it will, or is expecred to, increase in value it is not depreciable property. Artwork vs artwork.

The more I know the more I don’t know.
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poolcleaner
Level 9
‎12-07-2019 06:50 AM
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::smiling_imp:
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sjrcpa
Level 15
‎12-07-2019 06:50 AM
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)

The more I know the more I don’t know.
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IRonMaN
Level 15
‎12-07-2019 06:50 AM
I know of IKEA, but I have never shopped there.  Is their artwork somewhere around the $9,000 mark :stuck_out_tongue_closed_eyes::stuck_out_tongue_closed_eyes:

Slava Ukraini!
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George4Tacks
Level 15
‎12-07-2019 06:50 AM
Yes, about 9,000 Mark in 1920 Deutsche Mark. :wink:

Answers are easy. Questions are hard!
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abctax55
Level 15
‎12-07-2019 06:50 AM
Yeah, sure...as long as you move the decimal to the left a bit.
HumanKind... Be Both
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Just-Lisa-Now-
Level 15
Level 15
‎12-07-2019 06:50 AM

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♥¸¸.•*¨*•♫♪
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poolcleaner
Level 9
‎12-07-2019 06:50 AM
The cost of the canvas and the paints!
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Just-Lisa-Now-
Level 15
Level 15
‎12-07-2019 06:50 AM
:+1::+1:

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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