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Self employed
Are you trying to add a Carryall Trailer as a Rental Asset?
If so, you could choose 'Tools, Machinery, Equipment, Furniture' as the Asset Category.
On the next screen, choose 'Trailers and Trailer Mounted Containers'.
The next screen asks for Cost and Date Purchased/Acquired, then whether you Purchased it New, and what % Used for Business.
Then you are given several choices on how you want to deduct the item (i.e., depreciate, 179, etc.)
On the final screen, you are given the 2023 Amount of Depreciation, plus details. This would be a 5-year depreciable item.
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‎February 11, 2024
8:13 PM