Quote:
Originally posted by Mortified
Gar,
This one comes up every year at tax time at my office. I work for a company that makes video games. Some of my coworkers claim that they can deduct the cost of video games and consoles that they personally buy saying that it can be claimed as 'research' or 'education' as to what is current to keep them competitive in our field. Most of them don't have kids, so they say they would be the only ones using the console and games. Is this proper? And if so, what are the rules to do so?
Thanks in advance.
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Whatever floats their boat.
The way this starts is that probably, at one time, one guy did have a legitimate reason to do so, told his buddy what he was doing, and the habit spread.
Legitimate, unreimbursed business expenses are allowed as a miscellaneous itemized deduction subjet to the 2% AGI floor. What your pals are doing is a bit agressive, but in all actuality probably isn't doing them much good. Would I do it? No.