Originally Posted by Saffren:
I purchased all new kitchen appliances, Stove,dishwasher, refrigerator, microwave and also a new couch set for my daycare area. All these items were around $1,000 each per item, I was reading if an item is under $2,500 we do not have to do depreciation on the item and can take the full deduction in this tax year. Do I just enter this in my supply section on the schedule C? Or do I still fill out the depreciation work sheets? I am not sure on the Schedule C to place this.
Yes, you can deduct your time-space% of the cost of each item in one year, with no depreciation. Enter it on Schedule C, line 27a Other Expenses. Call it Furniture or Equipment.