You would usually add it as an asset and depreciate it either over several years or 100% the first year using Section 179. Or if they are a small amount or won't last more than 1 year you can just expense them 100%. If you want to expense an item and don't see a spot for it you can always put it under Other Misc. Expenses. You need to upgrade to Premium or the Self Employed version to enter business expenses and depreciation.
See this article for expensing or depreciating Assets
What can I expense or depreciate with the business...
What is Depreciation
https://ttlc.intuit.com/community/business-expenses/help/what-is-depreciation/00/26123
How to depreciate property
Publication 946 (2021), How To Depreciate Property | Internal Revenue Service
If you have a sole proprietorship (a Schedule C business), then that sole proprietorship is indistinguishable from you, yourself; it is treated as disregarded.
As a result, it would make no difference whether you paid for the trailer out of your personal account or a business account.
You would usually add it as an asset and depreciate it either over several years or 100% the first year using Section 179. Or if they are a small amount or won't last more than 1 year you can just expense them 100%. If you want to expense an item and don't see a spot for it you can always put it under Other Misc. Expenses. You need to upgrade to Premium or the Self Employed version to enter business expenses and depreciation.
See this article for expensing or depreciating Assets
What can I expense or depreciate with the business...
What is Depreciation
https://ttlc.intuit.com/community/business-expenses/help/what-is-depreciation/00/26123
How to depreciate property
Publication 946 (2021), How To Depreciate Property | Internal Revenue Service