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New Member
posted Jun 6, 2019 5:26:31 AM

How and where to deduct the asset more than $2500.00 as business expense?

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1 Best answer
New Member
Jun 6, 2019 5:26:34 AM

If the asset cost more than $2500 you are required to enter it as a business asset to depreciate. You may qualify for accelerated depreciation methods called section 179 or 50% Bonus Depreciation Allowance. When entering the asset, TurboTax will determine if it qualifies for either of these options and give you the choice as to take them or not.

Please see the page snip below;

1 Replies
New Member
Jun 6, 2019 5:26:34 AM

If the asset cost more than $2500 you are required to enter it as a business asset to depreciate. You may qualify for accelerated depreciation methods called section 179 or 50% Bonus Depreciation Allowance. When entering the asset, TurboTax will determine if it qualifies for either of these options and give you the choice as to take them or not.

Please see the page snip below;