I bought assets in bulk from a business owner who was going out of business. I use these accessories in my Home Staging business. Do I treat these Home Accessories (assets) as depreciable for tax purposes, and if so can i do so in bulk or individually?

[AnnetteB6]

If the accessories are expected to last more than a year, you could enter them as Assets for depreciation.  This would be advantageous to deduct over time if you expect the business to be profitable over the next few years and you would need the deduction.  Enter them as a single item if you expect the whole lot to last about the same amount of time, or enter them individually if each item may have a different expected life span in your business or if the individual cost is significant.

As you go through the section to enter the accessories as an Asset, you will see some questions about claiming the de minimis safe harbor election.  This may apply to your situation depending on how much you spent for the purchase of the accessories.  This would allow you to deduct the full amount on the 2022 return.