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Where do you deduct business computer and hardware for annual deduction

 
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MollsBBU
New Member

Where do you deduct business computer and hardware for annual deduction

You would want to include it in the "Business Assets" section of TurboTax. To do so:

  1. Click the Business tab at the top
  2. Click Continue, then I'll choose what I work on
  3. In the "Business Income and Expenses" section, next to "Profit or Loss from Business" click Start or Update/Revisit
    --If you haven't input your business information already, you will be prompted to at this point
    --Or, if you land on the "Here's the business info we have so far" page, click
     Edit next to your business
  4. Scroll down to the "Business Assets" section. Next to "Assets Being Depreciated" click Start or Update/Revisit
  5. Answer Yes to the first question, then follow the on-screen prompts to enter information about your purchases.

For tax purposes, depreciable assets are usually larger purchases, such as computers, furniture, or equipment. Such items are used in your business for longer than a year. Refer to IRS Publication 946 to learn more about depreciating property.

If your hardware purchases were not items to be used in your business for longer than a year, or they don't align with the specifications in Publication 946, it may be best to enter them in the Business Expenses Other Common Business Expenses section. 

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