No longer Self Employed - write-off or depreciation

Mar 18, 2005 0 Replies

I was self employed for Tax Year 2003 and had bought a laptop which was used 100% for my consultancy business. I claimed depreciation for the same on my year 2003 tax return. For tax year 2004, my status is that of a full-time student and I am no longer self employed. I have following questions:



  1. Is there any way to write off the amount of laptop that I had bought for use in my consultancy business?
  2. Can I still continue to claim depreciation for the laptop even though I did not have any income or expense for my consultancy business in Tax Year 2004?
  3. Any other recommendation?

Regards



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