It depends -
If each piece of equipment is less than $200 per
item, you can include the tools under Business Expenses > Other
Common Business Expenses (start/update) > Other Miscellaneous Expenses
(start/update). You can enter this as "business equipment " and enter the
amount.
If however a piece of equipment is substantially more
than $200, you will need to enter each item (the rest can still be
expensed as above) that is over this amount individually as an asset (you
will still be able to claim the full expense as an IRC section 179 deduction if
you have enough income to offset this deduction. Otherwise you will be able to
take a depreciation expenses over the life of the items).
Enter each asset
under the Your () Business Summary page under assets. Follow the TurboTax
guidance to help you enter this information.
To enter business income and expenses, once you
have signed into your TurboTax Account (for TurboTax Online sign-in, click Here , then select "Take Me to My
Return"), type "Schedule C" in the search bar then select
"jump to Schedule C".
