When items are purchased for a business, a decision is made whether it’s an expense that you deduct all of the cost now, or you deduct the cost over multiple years (depreciation).
There are two elections you can make. One is used to deduct items with a cost of $2,500 or less instead of depreciating. The second election deals with deducting improvements to business buildings.
These elections are available for Schedule C businesses, rentals, farms, and farm rentals. The link explains that when you answer YES to the improvements being treated as expenses, TurboTax will add the election statement to your return. You can enter those expenses as you did with the other expenses. Since you have elected to expense rather than to depreciate, the expenses will get entered with all of the other expenses. You can view your Schedule F prior to filing to ensure all expenses were captured.
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