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Artyman76
New Member

Turbo tax is not accepting the asset deduction under self-employment, how come?

 
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1 Reply
DianeW777
Expert Alumni

Turbo tax is not accepting the asset deduction under self-employment, how come?

It depends.  We may need clarification to better assist you.

  1. Did you choose top use the DeMinimis Safe Harbor (deduct the full cost of assets that are below $2,500)?  If so, you need to enter that deduction yourself under 'Miscellaneous Deductions'.
  2. Did you select to use Section 179?
  3. Did you select to use Special Bonus Depreciation?

When entering your assets be sure to read each screen as you go through.  Please update with additional information about your asset and we can help.

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