My 21-yr-old son started acquiring sophisticated camera and film equipment about 4 or 5 years ago. On his own he started writing, directing and filming short films which weren't intended to make money. He also had a photography website that did not make any substantial money. (maybe $600 over a couple of years with a couple of photo shoots.) In May of 2022 he started making significant money doing film editing and had a gross of $25,000 and profit of $22000 (deducting normal expenses, such as travel but not including any depreciation) while still going to college. I am wondering if equipment bought before 2022 can be depreciated, and if so how. For instance, supposed he bought a $5000 piece of equipment in 2020 -- how, if at all, can it be depreciated in the 2022 tax year.