Equipment purchase on last day of 2018

[fasteddie577]

My daughter started a business in the last quarter of 2018. She purchased equipment on the last day of the year, but did not use it until January of 2019. 

Can she either expense it or capitalize in on her 2018 tax return. If not, can she expense it in 2019? Thanks

[Cindy0H · Accepted solution]

Since she did not start using it for business until 2019, she can enter it on the 2019 taxes. TurboTax will not allow you to enter it for 2018 tax return with the dates you mentioned. Save it until 2019.

[fasteddie577]

Thanks TurboTaxCindyH. 🙂