Bought new inflatable rental equipment

I bought new inflatable rental equipment this year, both a new generator and a new set of body zorb balls.

Where do I put this expense? Do I carry it across multiple years in repairs/maintenance? Do I just throw them in "other" all this year?

Thanks!

859

Expert Alumni

Apr 3, 2020 2:27:05 PM

You can depreciate them over time by listing them as assets. If less than $2,500 you can write them off as supplies.

New Member

Apr 3, 2020 3:08:51 PM

But where in the turbo-tax software is there "assets"? I'm not seeing that.

Expert Alumni

Apr 3, 2020 3:25:08 PM

Please see the screen shot below for Schedule C in Home and Business.

@dl_terp

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Bought new inflatable rental equipment