Small tools would fall into the "Miscellaneous Expense" category. Something bigger/more expensive would be added as an asset to be capitalized.
When entering as an asset, the item(s) may qualify for section 179 deduction or bonus depreciation in the first year. As you go through the asset entries be sure to look at the "Learn More" hyperlinks to help you decide on taking the expense in one year versus capitalized over several years.
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