Yes, you would be able to claim any ordinary and necessary business expense that relate to your self-employment home business (including a safe to store your business files)
This can include such things as any business miles driven to a client or work location, home office expense if you uses a part of your home exclusively for your job and supplies or equipment used in your work to name just a few.
Please
refer to this IRS link for more information about Business
Expenses
However, for business equipment
If each piece of equipment is less than $200 per
item, you can include the tools under Business Expenses > Other
Common Business Expenses (start/update) > Other Miscellaneous Expenses
(start/update). You can enter this as "Office Safe" and enter the amount (See Screenshot)
If however a piece
of equipment is substantially more than $200,
you will need to enter each item (the rest can still be expensed as
above) that is over this amount individually as an asset (you will still be able to claim the full expense as
an IRC section 179 deduction if you have enough income to offset this deduction.
Otherwise you will be able to take a depreciation expenses over the life of the
items).
Enter each asset
under the Your () Business Summary page under assets. Follow the TurboTax
guidance to help you enter this information.
To enter business income and expenses, once you have signed into your TurboTax Account (for TurboTax Online sign-in, click Here , then select "Take Me to My Return"), type "Schedule C" in the search bar then select "jump to Schedule C".
