Search Unity

Asset store expenses and taxes

Discussion in 'General Discussion' started by OhiraKyou, Mar 25, 2019.

  1. OhiraKyou

    OhiraKyou

    Joined:
    Mar 27, 2012
    Posts:
    259
    Anyone have experience or thoughts on reporting asset store purchases on US tax forms? Self-employment taxes are based on net income and are therefore still affected by expenses, even when taking the standard deduction (they're not affected by either choice).

    But, is it fine to just list asset store purchases under "other expenses"? Software is supposedly usually amortized. But, assets are a little different. They often don't even meet the definition of software on IRS publications, because they're not necessarily code ran on a machine.

    Also, before anyone mentions contacting a CPA, I know. That would be ideal. But, I'm not making enough to justify paying an accountant yet.
     
    Last edited: Mar 25, 2019