- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Furniture is an asset. You can set up all of your furniture as a single asset, or you enter them individually. Any item with a cost less than $2,500 can be expensed. Things you bought to decorate with I would include with Other. Sheets, towels, linens, paper products, etc. would be supplies. You can use Other for anything that doesn't fit somewhere else. There aren't a lot of Schedule E categories to choose from. More important that the categories is maintaining good records.
Following is a link to Schedule E, the tax form which all of these items flow to. This should help you see what the end categories are. https://www.irs.gov/pub/irs-prior/f1040se--2018.pdf
‎June 3, 2019
4:59 PM