Can I add my $700 business computer as both depreciation asset and business expenses? Or either or?
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You cannot claim both depreciation and business expense- however, in the TurboTax entry, you enter it as an asset and it should qualify for 179 in which case you deduct as a expense (it has to be reported as an asset but you get the business expense deduction) or bonus depreciation (which has the same effect). So- technically it is an asset, but it may be treated as an expense.
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