AnnetteB
Intuit Alumni

Get your taxes done using TurboTax

No, it will not matter that the equipment was purchased and stored before you placed it into service with your business.

When you enter the asset for depreciation after you start using it, you will be asked for the date it was placed in service and you may be asked for the date of purchase.  It will not matter that they are not the same date.  The depreciation will begin on the date it is placed in service.

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