I make & sell pottery. In 2016 I started leasing a private studio & got a new ceramic kiln, $2367. Kilns can last 20+ yrs. Depreciate it or add it as a 2016 bus. expense?

mickowitz · ‎May 31, 2019

I make & sell pottery. In 2016 I started leasing a private studio outside my home and bought a new ceramic kiln for $2367. Kilns can last 20+ yrs.

Depreciate it or add it as a 2016 deductible business expense?

WillK · ‎May 31, 2019

The Kiln would qualify as an asset, so it would need to be depreciated. Click here to read about depreciation: https://www.irs.gov/pub/irs-pdf/p946.pdf

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WillK · ‎May 31, 2019

The Kiln would qualify as an asset, so it would need to be depreciated. Click here to read about depreciation: https://www.irs.gov/pub/irs-pdf/p946.pdf

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mickowitz · ‎May 31, 2019

Thank you, TurboTaxWill!

I make &amp; sell pottery. In 2016 I started leasing a private studio &amp; got a new ceramic kiln, $2367. Kilns can last 20+ yrs. Depreciate it or add it as a 2016 bus. expense?