If you have depreciable assets you want to enter for your business, you will make the entries within the Self-Employment section of TurboTax.
To do this, log back into TurboTax and proceed to the Wages & Income section.
- If you do not see your business listed, scroll down to until you see View all sections and select Add wages and income.
- Select Self-employment income and expenses and select start/revisit.
- Select edit for the applicable business or start to enter your new business information.
- On the screen titled Here's your business info, select Add expenses for this work.
- On the screen titled "Select any new expense categories you have", select the box to the left of Assets.
- Select continue and follow the prompts to enter the asset information.
Also, be aware the online version of the program is only for 2023 Income tax returns. If you are trying to prepare a return for a prior year, please see this link for the available and supported versions of TurboTax.
Please see this link for more details on how to enter the asset.
What self-employed expenses can I deduct also has a lot of useful information to assist you with entering any additional expenses into your tax return.
@taxnomyown0328
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