COGS or expense?

I have an automotive business that primarily does automotive computer programming, I have to purchase a file for each one I do, so my question is are those COGS or expenses?

posted

You could list it as either. It will have the same end result and it is technically both.

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I owned a rental property in 2022 but didn't sell it until 2023 because we were fixing it up. Is it still considered a rental for expense purposes?

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