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I bought a computer that I use for multiple LLCs. How do I depreciate it?
Using TT Self Employed. The computer is used for personal business (for the company that provides a W-2), for an LLC (sole proprietorship) that I own, and for two other LLCs that I partly own (partnerships) which will provide Schedule K's. The Partnerships have a non-reimbursement agreement that says that I'm responsible for expenses related to doing the job. Where do I deduct this in TurboTax? If I go to Business --> LLC #1, won't it make it seem like the computer is exclusively the property of LLC #1 and thus excessively eroding LLC #1's reported business income?
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‎June 4, 2019
12:20 PM