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Home Baking Business - Replaced All Plumbing in House, where and how to enter as depreciating asset?
We have a home baking business we run entirely out of our home. We have some storage areas used exclusively for the business' ingredients and sales equipment like bags, boxes, flour, nuts etc. We do all baking in the same kitchen we use for all personal food preparation.
This past summer, we replaced all pipes in the house (the entire neighborhood was built using a type of plastic piping that's prone to catastrophic and sudden leaks).
Did I enter it correctly here?
And what do I enter (Turbotax didn't prompt me) here for Special Depreciation?
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‎February 19, 2024
10:13 AM