Originally Posted by parrothead
However, if you have a bbq related business, and competing and using this thing along the lines of competing, and is all a part of your business, then deductions and depriciation are in order. Of course you need to claim any prize money also.
So if i claim the winnings from last year, i can write off the cost of the food, registration fees etc..? and depreciate the cost of the trailer?
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CBJ with a Fuzzy Blue Hat, 18 Foot Competition Trailer, Customized Klose BYC, Custom Built Shirley built to feed our Veterans(A.K.A "Abrams"), 1 Double Barreled Lang 84, 1 Heavily Modified Bionic Bandera, 1 Custom Super Medium Stickburning
Spicewine w/stoker, 1 XL BGE, 1 Mini BGE,
2 Pit Barrel Cookers
, 3 WSMs, 3 Weber Kettles, an NB Hondo, A Modified Brinkman Horizontal, DCS 48" Grill, a Broilmaster P3, a covered, pellet pooping FEC100, and our duck died. :(
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