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New Member
posted Jun 4, 2019 4:20:09 PM

I bought 14 chairs to replace broken ones for my business. The total cost was $621. Should that go under Assets as a fixture or under expenses?

I bought 14 chairs to replace broken ones for my business. The total cost was $621. Should that go under Assets as a fixture or under expenses?

0 3 990
3 Replies
Intuit Alumni
Jun 4, 2019 4:20:11 PM

You have a choice. You can expense them under Section 179 or depreciate them over 7 years.

New Member
Jun 4, 2019 4:20:12 PM

Depricate means I take part of the expense as a deduction now and then spread the rest over future years?

Intuit Alumni
Jun 4, 2019 4:20:14 PM

Yes.