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?

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?

2263

1 Best answer

Intuit Alumni

May 31, 2019 6:58:43 PM

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

Intuit Alumni

May 31, 2019 6:58:43 PM

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

New Member

May 31, 2019 6:58:45 PM

Thank you, TurboTaxWill!