Yes, you would want to include it in the "Business Assets" section of TurboTax.
To do so:
- Click the Business tab at the top
- Click Continue, then I'll choose what I work on
- In the "Business Income and Expenses" section, next to "Profit or Loss from Business" click Start or Update/Revisit
--If you haven't input your business information already, you will be prompted to at this point
--Or, if you land on the "Here's the business info we have so far" page, click Edit next to the Business you purchased the trailer for
- Scroll down to the "Business Assets" section. Next to "Assets Being Depreciated" click Start or Update/Revisit
- Answer Yes to the first question, then follow the on-screen prompts to enter information about your trailer purchase
