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Deductions & credits
Durable equipment (with an expected useful life of more than one year) must always be listed as a business asset, never as supplies or an expense. If you qualify for the safe harbor or section 179 that would allow you to take the cost as an expense in one year instead of depreciating the assets, Turbotax will give you the option. But always start by listing the items as assets.
March 9, 2021
7:00 AM