Is a travel luggage purchase for a self employed person/contractor a business travel expense or a miscellaneous business expense?

[ValerieE · Accepted solution]

If the luggage is used solely for business travel you can deduct the purchase as a business expense.  The expense can be correctly entered under either travel or miscellaneous expenses. If the luggage is more than $2500, it would be considered an asset and need to be depreciated.  The IRS has recently updated the limit for claiming expenses.

If you need help entering the expense please see this article:

https://ttlc.intuit.com/replies/4800425