Can I deduct a Used Camera I Purchased For My Business? If So What Option Do I Select?

[Lee3]

I purchased a Used Canon from Adorama. Can I deduct this as an expense I use it for business about 65% of the time. The only options it has is for NEW equipment

[RyanH2 · Accepted solution]

As long as this asset was purchased for your business, you should be able to claim a deduction for it. You can choose to enter it as used, and enter the percentage of business use for the item in TurboTax Home & Business. 

1. Go to the search bar in the upper right of the screen and enter "assets purchased, self-employed business"

2. Select "Jump to assets purchased, self-employed business"

3. Select "Edit" next to your business name

4. Select "Start/Update" next to "Assets Being Depreciated"

5. Answer "Yes" to "Did you buy any items that cost $2,500 or less in 2015?"

6. Answer "No" to "Do you want to take this annual election?"

• When you arrive to a screen that says, "Tell Us About This Asset/Large Purchase" you will have the option to check a box that says, "I purchased this asset new". Leave that box blank. You should also see, "Have you used this item 100% for this business since you acquired it?". You would answer no, then enter 65%.

For more information on section 179(business assets deduction) visit this link: https://ttlc.intuit.com/questions/1901444-turbotax-business-depreciation-section-179-deduction-help-...