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I bought a computer for my business. I put it in depreciation are & chose to deduct full amount. Do I still need to re-enter it in my expenses? I don't want to duplicate.
When i entered it in depreciation and chose to deduct full amount this year, it lowered my amount of tax due. But instructions on TurboxTax say to now go back and add the computer in my expenses. Won't that mean I'm adding the same deduction twice?
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I bought a computer for my business. I put it in depreciation are & chose to deduct full amount. Do I still need to re-enter it in my expenses? I don't want to duplicate.
No, you should not re-enter that computer. The depreciation expense would be doubled if you did.
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I bought a computer for my business. I put it in depreciation are & chose to deduct full amount. Do I still need to re-enter it in my expenses? I don't want to duplicate.
No, you should not re-enter that computer. The depreciation expense would be doubled if you did.
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