HelenC12
Expert Alumni

Get your taxes done using TurboTax

That is correct, you can't treat your $10,000 item as an expense however you may be able to take a  Section 179 Deduction or other type of Bonus Depreciation. This will offset the cost of your asset. 

 

Set up your asset and go through the interview. If you qualify, you may be eligible for the above deductions.

 

See Depreciation of Business Assets.

 

 

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