Yes, property purchased for business use can generally be depreciated over time. When you buy property like buildings, equipment, or other assets to expand your business, you can deduct a portion of the cost each year through depreciation.
If you've purchased property for your business expansion, you can enter the details in TurboTax and it will help you calculate the right depreciation amount for your tax return. The exact depreciation period will depend on what type of property it is - equipment is generally depreciated of 5-7 years while buildings typically depreciate over 25.5 or 39 years depending on use.
