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Business & farm
You can add the items as depreciable assets for your business. To do this, please follow these steps:
- Click on the Business tab > Continue > I'll choose what to work on
- On the Let’s gather your business info screen, in the Business Income and Expenses section, click the Start/Update button. [See Screenshot #1, below.)
- If you have already started adding information about your business, you will see the Here's the business info we have so far screen. Click on the Edit box next to the business. [Screenshot #2]
- If you haven't already started adding business information, continue through the screens to enter the needed information.
- You will now be on the Your [business description] Business screen.
- If you are going to depreciate
the assets, go to the Business Assets section and click on the Start/Update
box. [Screenshot #3]
- Follow through the interview screens, entering the requested information.
In order to take 179 depreciation on an asset it has to be placed in service during the current tax year. For additional information on the 179 deduction, please see the following FAQ:
https://ttlc.intuit.com/replies/5387864
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May 31, 2019
11:29 PM