turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If I purchased servers for a business, do I need to list every item that was associated with the installation? Or can I say "servers and associated equipment"?

Each item is individually under $2500, but together they total $10,000. Also, there are over 80 items...so hoping this can be consolidated as "servers and associated equipment for installation".
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
AnnetteB6
Employee Tax Expert

If I purchased servers for a business, do I need to list every item that was associated with the installation? Or can I say "servers and associated equipment"?

Since everything that was purchased is needed to make the system work, you can group them together as a single Asset for depreciation if that makes sense for your business.  

 

Just keep records showing what was grouped together.  Down the road you might not remember the details if asked.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question