You'll need to sign in or create an account to connect with an expert.
After you enter your business income, it will ask you about business expenses. The balloons would be listed as supplies under Other Common Business Expenses.
The equipment would depend on what it is, but it is generally listed as a business asset and depreciated over its useful life, unless you spent less than $2,500 on them, then you may be able to fully expense the equipment under The De Minimis Safe Harbor election. You will find the asset entry after the business expenses section.
What version are you using? Online or Desktop? If you are in Online Deluxe you will have to upgrade to Premium to enter Expenses. All the Desktop programs have all the forms and expenses.
I'm using premium. Should I write it off as a total (including taxes e shipping) your I have to place item by item and the taxes and shipping for those purchase in a different category?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
cochran-debra
New Member
bid-rich
Level 1
michelegm29
New Member
planphore
Level 1
astx813
Level 2