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Election of Minor Computer Science (2325 hours) 20152016 Catalog Name I.D. Number Planned Degree Completion Date: Mo. Yr. Major: Required Courses Hours Do not write in shaded area CPR 111 CPR 113
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What is election of minor computer?
Election of minor computer is a process where a taxpayer elects to treat a computer as a deductible expense rather than capitalizing it.
Who is required to file election of minor computer?
Taxpayers who meet the eligibility criteria set by the IRS for the election of minor computer are required to file it.
How to fill out election of minor computer?
The election of minor computer can be filled out by completing Form 4562 and attaching it to the taxpayer's tax return.
What is the purpose of election of minor computer?
The purpose of the election of minor computer is to allow taxpayers to deduct the cost of computer equipment in the year it is purchased rather than having to capitalize it and depreciate it over time.
What information must be reported on election of minor computer?
The taxpayer must report details of the computer equipment purchased, its cost, and the election to treat it as a deductible expense.
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