You should be able to consider the tool box as a work-related expense, rather than capitalize it as an asset.
If you are an employee (W-2 wage earner), then you tool box would be a employee-related business expense, unless you were reimbursed for it by your employer . . . in which case it would not be tax-deductible.
If you are self-employed (either your get a 1099-MISC or your don't), then should be able to consider it an expense as well, if it cost under $2,500 and you make an election to expense it while you are completing your income tax return. The alternative would be to capitalize it as an asset, and then depreciate it over several years.
Here is a link to an IRS webpage that will help provide additional information for employee business expenses:
https://www.irs.gov/uac/employee-business-expenses-1
and see also the De Minimis Safe Harbor election rules for self-employed persons and small businesses here:
https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations#Ad...
TurboTax will take care of making the actual Safe Harbor election for you, if you answer the appropriate questions in TurboTax as you are going through the program.
Thanks for asking this, and good luck to you!
