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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15732
Experience:  15years with H & R Block. Divisional leader, Instructor
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I make all payments on a machine used 100% in my business but

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I make all payments on a machine used 100% in my business but it was purchased in my brother's name due to my credit issues. When I pay it off, he will transfer title to me. He does not take any deduction at all. Can I take the business deduction since I make all the payments even though it is not in my name?

Robin D. :

Hello and thanks for trusting me to help you today. I am a tax adviser with over 15 years of experience.
The machine you are purchasing would be an allowable expense. You are actually buying the equipment from your brother (if your brother is not in the business with you).
There must be a legal obligation for a debtor to pay a creditor a specified sum of money. The best way to establish this relationship is with a written document between you and your brother.

Robin D. :

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