Deductions

als12065 — Sun, 21 Feb 2021 17:57:26 GMT

I purchased a new salon chair for my business for $538. I'm not sure where I am supposed to deduct it in Turbo Tax Home and Business. Miscellaneous Expenses says items must be under $200. Any suggestions? Thanks

Re: Deductions

JotikaT2 — Sun, 21 Feb 2021 18:22:56 GMT

You will need to enter this information as a business asset.

Log back into your TurboTax return.
Select the Business tab
Select Business Income and Expenses
Select I'll choose what I work on
Select Update to the right of Business Income and Expenses
Select Edit to the right of your business
Select Edit/Start to the right of Business Assets to add your salon chair.

Follow the prompts in TurboTax to enter the details of your purchase.

Please see the following links for more information to help you as you enter the information for your business.

Self employment income and expense guide

Depreciation of business assets

Re: Deductions

als12065 — Sun, 21 Feb 2021 18:59:09 GMT

Thank You!

topic Re: Deductions in Deductions & credits

Deductions

Re: Deductions

Re: Deductions