Section 179 Hi! I have a cello (musical instrument) that was very costly and I use for my work as a professional freelance musician. I have been deducting its cost over many years with my Canadian taxes as a Capital Cost Allowance. Now that I am a resident of the US I am not sure what numbers I put where for section 179.
On my Canadian return I deducted $971 Cdn leaving an undepreciated capital cost of your cello to be $3,884 Cdn. |