Thank you! Yes, this hard drive is going to sit on my desk and store all my work files for it's entire lifespan, and will always be around 70% of its space.
One other question. If I take the Section 179 deduction for the hard drive this year, would I list that on next year's tax return under the Business Asset section? Or would I not list it next year since I am choosing to deduct the full value of the item and take the Section 179 deduction this year. I assume I should not include on next year's return.
I only ask because in 2020 I took the Section 179 deduction for a computer that I used for work 80% of the time, and when I started up Turbo Tax 2021 and transferred my 2020 return, it carried over that computer into this year's return. I deleted it from this year's return because I chose to deduct the full value of that computer and took the Section 179 deduction in 2020. That's what I was supposed to do because I chose the Section 179 deduction, correct?
Thank you!
