Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 15, 2025 1:15:17 PM

Can *only* depreciable items should be entered in the Business Asset Summary Page? Or any property purchased and owned by the business that year?

0 1 2931
1 Replies
Expert Alumni
Apr 15, 2025 1:22:24 PM

Intangible property, amortized property and land improvements may be reported in the Business Asset Summary Page.

 

Property other than depreciable property or amortized property is expensed in the current year and does not need to be recorded and retained from year-to-year.