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Get your taxes done using TurboTax
It’s either a business expense or an Asset. Not both. So if you already took the expense you don’t enter it as an Asset. The expense is a one time thing. It’s one and done. When you enter a new item bought in 2023 you choose how to enter it.
So if you bought it in 2022 and expensed it then NO it is not a business asset.
October 6, 2024
2:29 PM