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Business & farm
Thank you for the response. However, if I listed it as an expense and not an asset, isn't it the case that I can't depreciate it over 5 years? From other TurboTax responses in this chain, my understanding is I have to depreciate it (and thus have to list it as an asset?) because in Year 1 I only used it 5% for business, and in future years I will use it 60% for business Thus, I can't claim the entire computer amount as an expense this year. Thanks.
‎February 16, 2022
4:50 PM