Personal training expense question

[ronk]

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?

[PaulaM · Accepted solution]

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.