TurboTax FAQ
TurboTax FAQ

What does "I purchased this asset new" mean?

 When entering a business asset, customers see the screen Tell Us About This Asset/Large Purchase and are often unsure how to answer when the asset is used, but new to the business.


The box "I purchased this asset new" is only for a brand new asset, not just new to the customer or business. If the asset is used or bought second-hand, and the other boxes do not apply, no selection should be made.