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RS 01803: Net Earnings from Self-Employment

Effective Dates: 11/14/2002 - Present

TN 7 (06-90)

POLICY

1. Included Costs

A minister deducts as an expense his ordinary and necessary expenses. This includes such costs as vestments, stationary, stenographic help, and travel expenses.

2. Depreciation

Books and equipment having a useful life of more than one year are capital assets. The entire cost may not be deducted in the year of purchase but must be recovered through depreciation.

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RS 01802: Self-Employment - Trade or Business
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RS 018: Coverage of Self-Employment
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RS 01804: Self-Employment Income
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