SusanY1
Employee Tax Expert

Deductions & credits

Yes, it sounds like you understand correctly.  Items such as shipping supplies and your tools to make the jewelry are supplies in Other common business expenses.  

 

Your camera is an asset, since it is valued over $200, but since it is under $2,500 you can elect to list it instead as a miscellaneous expense or supply.

 

Whether you list everything out separately or just include one lump-sum on the tax return is up to you.   Some taxpayers prefer to list out larger purchases for reference later. 

 

However, there is no requirement to list the items out individually on the tax return.  One total for supplies is sufficient.  

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