My job requires that I purchase and maintain certain tools and supplies. These unreimbursed expenses, including depreciation, are deducted as ?job expenses? (2% deductions) on schedule A. However, some of these tools are also used for free-lance work that I report on schedule C.
It is it allowable for me to allocate usage percentages and to split the expenses between schedules A & C?
For example, one item purchased in 2010 is being used about 60% at my regular job and about 40% for free-lance work. Can I depreciate 60% of it on schedule A and 40% of it on schedule C? Any other suggestions for how to handle this situation? Thanks in advance for any replies.
M.D.
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