Yes, your thinking is correct.
If you use those items 100% for business, then I would deduct them as a business expense. Use the lower of either ETV or the fair market value (FMV). Those could be the same but not necessarily. I would say the FMV is what you can actually sell the items for at that moment.
If you use them for business only partially, then an allocation between persona and business use is required.
As to how to report it: office supplies and supplies for the items you've mentioned sound right.
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