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Computer repair deduction on item expensed

Self Employed. Home/Business:

Following this piece of info on TT22: If you make an improvement to your business space or equipment that increases it's value or lengthens its life, you cannot deduct the full cost this year. Instead, you should write off the expense over several years. 

How?

Computer purchased in 2019. It is being expensed from previous years. 2020, 2021. 

Repair was $1000. 

How do I expense the new expense 🙂


PS Clicking on the improvement links takes me to examples like adding a fence, paving a driveway, etc. to property. 

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1 Best answer

Accepted Solutions
ThomasM125
Expert Alumni

Computer repair deduction on item expensed

You should enter the repair as a new asset and indicate that it is computer equipment. Then you will be provided with various options to depreciate it, which may include an option to deduct it in the current year under section 179.

 

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2 Replies
ThomasM125
Expert Alumni

Computer repair deduction on item expensed

You should enter the repair as a new asset and indicate that it is computer equipment. Then you will be provided with various options to depreciate it, which may include an option to deduct it in the current year under section 179.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Computer repair deduction on item expensed

Thanks!

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