A new security system would be considered a depreciable asset. Generally, technology is a 5 year asset. However, it is possibly that you can fully expense this on your return using the Section 179 Deduction.
When you start to enter the security system in TurboTax, you will enter it as an asset. Then as you walk through, TurboTax, if eligible, TurboTax will give you the option of fully expensing it on your 2024 return.
Yes, you will deduct any type of rebate you received for the system. You will not include it as income.
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