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Level 1
Jun 3, 2019 11:51 PM UTC
Solved

Personal training expense question

My wife is a personal trainer and purchased a new bike that she uses. Is this deductible and where do I list it as an expense?
PaulaMAnswer
Employee Tax Expert
Jun 3, 2019 11:51 PM UTC

If she uses the bike in the business directly, then it would be a tool or asset. 

Enter in the Asset section for her business. Depending on its costs, the bike might be fully expensed instead of depreciated.

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1 reply

PaulaMEmployee Tax ExpertAnswer
Employee Tax Expert
Jun 3, 2019 11:51 PM UTC

If she uses the bike in the business directly, then it would be a tool or asset. 

Enter in the Asset section for her business. Depending on its costs, the bike might be fully expensed instead of depreciated.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"