Actual Use vs Time/Space

[LittleExplorers]

I bought a cabinet for daycare items. Very rarely my kids will take out the craft items, approximately 1 time every 4 months. They have most of their own items for crafts in their room. How do figure out the % to write off as it is nearly always daycare use?

[TomCopeland]

time-space%

I bought a cabinet for daycare items. Very rarely my kids will take out the craft items, approximately 1 time every 4 months. They have most of their own items for crafts in their room. How do figure out the % to write off as it is nearly always daycare use?

As a general rule you will use your time-space% for all items that are used by both your family and your business. In some cases where your actual business use is much higher than your time-space% you can calculate an actual business use percentage and claim a higher expense. So, to do this you should write down how often your cabinet is used for business and then personal purposes. Estimate a percentage of business use based on this and deduct your actual business use percentage of the cost in one year.

[LittleExplorers]

Thanks! This is the only item I have ever considered using something other than time and space or 100% only because it is expensive and basically not used by my family.