My wife builds dog leashes and collars out of waterproof/stinkproof material and sells them (among other places) at a local retail shop in our town.
I built a display for her that she took to the store to hang her leashes and collars on.
Where do I capture the cost of the materials I used for that display in TurboTax for her business?
You'll need to sign in or create an account to connect with an expert.
Treat the amount either as an asset or supplies, depending on its useful life and cost. If it cost some money, depreciate it over 7 years or take a Section 179 for the cost. If the amount was not significant, take it as a supply.
The total I spent was $63, assume I take it as a supply then?
Yes, supply expense is appropriate.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.