Just curious if I could get some serious write off's this year by selling the tools and equipment that I purchased prior to being an lco back to the business. Prior to being an official lco, I had started purchasing tools and equipment for "side Jobs". Now this stuff is officially used for business. I've compiled a list of all of the stuff inculding this computer and totaled up almost $5,000 worth of stuff that I use regularly for business. I'm just not sure of a couple of things. First, what if I purchased stuff that has already run it's term and been heaped to the parts pile. It was worn out by the business and purchased prior. Also, do you need to depreciate, or is it worth it's original value. I don't want to raise any red flags, but, I would like to know the basics about this stuff and get my share of the pot. This is the end of my second season, and I don't have the write offs that I did in the first season. At this point uncle sam has both his hands out holding a pillow case.