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Business & farm
@ryan-ms2372 wrote:In turbo tax a tractor is an asset right? not a start up expense?
That is correct, @ryan-ms2372 and you enter the tractor in TurboTax as such, but you do not begin deductions for depreciation (or take the special allowance (aka bonus depreciation) or Section 179 expensing if available) until such time as the asset is placed in service.
‎January 28, 2020
12:23 PM