>>Our club is considering purchasing a laptop computer for our
trading partners to utilize for club transactions.  The use
of the laptop will be at least 50% club business and more
likely in the 90% range.  I understand there is a category
for Software Expense in Bivio, but I did not see anything
equipment related.  Does anyone have an opinion on the
possibility of deducting the cost of the laptop or maybe
depreciation over time.  I understand this would only be an
opinion and not legal advice, but an opinion would help me
decide if I would like to pursue this approach.  Thanks in
advance for any advice.

If your club purchases a computer for its use, you will have to depreciate it using the standard rules for listed property. It may qualify for Sec. 179 expensing the first year. The biggest difficulty you will have will be preparing your club's tax return. The bivio tax module is not designed to prepare a "full" 1065 for an operating partnership, so it does not have depreciation modules nor (to my knowledge) will it be able to complete the necessary entries on Schedule K and K-1.

 

As an aside, I can't imagine a set of circumstances where a computer would be used 50% for club business and that usage would be sufficient to justify the purchase.

 

Ira Smilovitz