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Business & farm
Either enter tools under Supplies or as Other Misc Expenses. If one is over 2,500 you should enter it as an Asset and depreciate it.
For the Home & Business version:
Go to Business tab- then Continue
Business Income and Expenses - Click the Start or Update button
Then click EDIT by the business name and the next screen should be a list of topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.
Under Business Expenses, Click Start or Update by Other common business expenses. You should see the list of expenses and amounts you entered.
Then click the start or update button by the expense you want to add or edit.
‎April 21, 2021
1:40 PM