I have a camera worth more than 2500. And lenses and other equipments worth less than 2500. Should they all be assets? I wouldn't mind getting the most money this year (as opposed to slow depreciation) as I'm always investing more on equipment. Where should deduct these items? All in Assets or expenses?
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The camera itself should be listed as an asset and the other equipment could be listed as expenses. When you are entering the asset in, you can elect to take bonus depreciation to get more depreciation expense this year. Turbo Tax will walk you thru how to do this.
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