We purchased office equipment for a business less than a year old. Can we still 'claim' them as Depreciable Assets?

[JeffreyR77 · Accepted solution]

Yes, you can claim office equipment as Depreciable Assets in your business.  Office equipment can be depreciated over 7 years.  The Tax Cuts and Jobs Act of 2017 allows Special Depreciation of 100% of the cost of new equipment put in service in 2020.  TurboTax will allow you to choose how to depreciate your office equipment.

Depreciation of Small Business Assets