My daughter is a student in college and she also is an aspiring musician/singer. She is 100% dependent on me. She makes very little money performing, mostly free. In 2015 i paid for her to record a music CD and purchased a lot of high dollar sound equipment.This added up to thousands of dollars. My question is can I deduct these business expenses from my taxes and how? Thanks in advance for any assistance.

Sorry no since the dollars spent for your daughter to buy a music CD/sound equipment or etc are NOT directly related to your business; You can only claim your daughter as your dependent on your return, I mean you can claim only a dependent exemption on your return.