I bought an expensive camera in 2017 at cost 20K and I had. sales. How do I write it off?

[petrubaraghin]

How do I write off big purchase like a professional camera?  I had sales in 2017 related to my video-photo activity like 20% of this expense.

[DianeW · Accepted solution]

The camera is considered a depreciable asset, which is any personal property (as opposed to real property) that has more than a one year expected life.

When you are entering your business income, expenses, etc, you will add this as an asset. On your video-photo activity page scroll to Business Assets, then Start or Update. Follow the screen prompts to enter your camera purchased in 2017.

To reach the area to start your entry use the search function, upper right.  Type schedule c then Jump to schedule c. 

• Click the images attached to enlarge and view for assistance.