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posted Jun 1, 2019 4:23:39 PM

How would I categorize a deduction for an aftermarket warranty?

I've purchased aftermarket warranties for a variety of assets and supplies for my business. How would I categorize these when entering my deductions. Would they go under supplies? Legal and Professional fees? Other miscellaneous fees?

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1 Best answer
Level 5
Jun 1, 2019 4:23:40 PM

They can either be added to the basis of the item they were purchased for or I would recommend you classify them an insurance.

1 Replies
Level 5
Jun 1, 2019 4:23:40 PM

They can either be added to the basis of the item they were purchased for or I would recommend you classify them an insurance.