I was able to enter an asset in TurboTax Online Premier and at the screen How do you want to deduct this item?, I was given the option to click I'll deduct the full value of the item this year (Take the Section 179 deduction).
Perhaps you do not qualify for section 179 because you are already reflecting a net loss for the self-employment activity?
This TurboTax Help states:
Here are the rules and limitations for 2020:
- The asset must be tangible personal property, including software (not real estate).
- It must be used in a trade or business (property used in a rental activity is generally not eligible).
- You must take the deduction in the year you start using the asset.
- The decision to use Section 179 must be made in the year the asset is put to use for business.
- The deduction cannot be more than your earned income (net business income and wages) for the year.
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