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JavierSanchez
Returning Member

a 2010 dump truck were purchased for $13,000 how this truck should be entered on a 1040 if the taxpayer runs on schedule C?

a 2010 dump truck were purchased for $13,000 how this truck should be entered on a 1040 if the taxpayer runs a construction self employed on schedule C?

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AnnetteB6
Expert Alumni

a 2010 dump truck were purchased for $13,000 how this truck should be entered on a 1040 if the taxpayer runs on schedule C?

The dump truck will be entered on Schedule C as a business Asset to be depreciated.  When you choose that category of expenses TurboTax will ask you questions about the dump truck to determine how much you can deduct for your 2021 tax return.

 

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