What does "I purchased this asset new" mean?

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Intuit

What does "I purchased this asset new" mean?

When entering a business asset, you'll see the screen Tell Us About This Asset/Large Purchase. The option I purchased this asset new is only for a brand new asset, not just new to you or your business. If you bought the asset used or bought second-hand and the other boxes don't apply, don't make a selection on this screen.

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